Impressive Q4 2022 earnings to drive price growth on NGX

The stock market last week received Q4 earnings of quite a number of equities. The market eventually closed the week on a positive note with 0.12% growth WtD. Year to date, the market has returned 2.74% with the All Share Index and Market Capitalisation at 52,657.88 points and N28.681 trillion respectively.

As at last week, the following Q4 results were released: Unilever, Cadbury, FTN Cocoa, Glaxosmith, Ikeja Hotel, NEM Insurance, Abbey Mortgage Bank, Industrial & Medical Gas Plc, International Energy Insurance, Japaul Gold, NPF Microfinance Bank, Eterna Plc, CAP Plc and Berger Paints.

Other results released are companies with special year end, which include: Guinness, University Press and Academic Press

To a large extent the Q4 2022 earnings released so far have met and surpassed the market’s expectation and the market is moving to reward the prices of those stocks accordingly.

UNILEVER

The Q4 2022 result of Unilever shows growth in the company’s top line and bottom line figures, year on year.

A turnover of N88.72 billion was reported for the 12 months period, up by 25.80% from N70.52 billion reported the previous year.

Profit after tax grew year on year by 75.78% to N5.99 billion from N3.41 billion reported the previous year.

Earnings per share of the company stand at N1.04, up by 75.78% from the EPS of N0.59 achieved the previous year.

At the share price of N13.25, the P/E ratio of Unilever stands at 12.70x with earnings yield of 7.87%.

CADBURY

Cadbury reported a turnover of N55.21 billion for the 12 months period, up by 30.30% from N42.37 billion reported the previous year.

Profit after tax grew year on year by 110.38% to N946 million from N449.7 million reported the previous year.

Earnings per share of the company stand at N0.50, up by 110.38% from the EPS of N0.24 achieved the previous year.

At the share price of N11.55, the P/E ratio of Cadbury stands at 22.93x with earnings yield of 4.36%.

NEM INSURANCE

The underwriting firm reported a turnover of N33.37 billion for the 12 months period, up by 19.71% from N27.88 billion reported the previous year.

Profit after tax grew year on year by 18.73% to N5.25 billion from N4.42 billion reported the previous year.

Earnings per share of the company stand at N1.05, up by 18.73% from the EPS of N0.88 achieved the previous year.

At the share price of N4.05, the P/E ratio of NEM Insurance stands at 3.87x with earnings yield of 25.85%.

GLAXO SMITHKLINE

The Company reported a turnover of N25.4 billion for the 12 months period, up by 13.12% from N22.45 billion reported the previous year.

Profit after tax grew year on year by 5.05% to N692 million from N658.8 million reported the previous year.

Earnings per share of the company stand at 58 kobo, up by 18.73% from the EPS of 55 kobo achieved the previous year.

At the share price of N6.5, the P/E ratio of Glaxo Smithkline Consumer Nigeria Plc stands at 11.23x with earnings yield of 8.90%.

NPF MICROFINANCE BANK

NPF Microfinance Bank Plc reported a turnover of N7.18 billion for the 12 months period, up by 24.48% from N5.77 billion reported the previous year.

Profit after tax grew year on year by 77.68% to N1.26 billion from N707.49 million reported the previous year.

Earnings per share of the company stand at 21 kobo, up by 77.68% from the EPS of 12 kobo achieved the previous year.

At the share price of N1.65, the P/E ratio of NPF Microfinance Bank Plc stands at 7.87x with earnings yield of 12.71%.

ETERNA PLC

Eterna Plc reported a turnover of N117.46 billion for the 12 months period, up by 42.90% from N82.2 billion reported the previous year.

Profit after tax grew year on year by 260.82% to N1.77 billion from a loss after tax of N1.1 billion reported the previous year.

Earnings per share of the company stand at N1.36, up by 260.82% from the negative EPS of N0.84 achieved the previous year.

At the share price of N7.5, the P/E ratio of Eterna Plc stands at 5.53x with earnings yield of 18.09%.

CAP PLC

CAP Plc reported a turnover of N19.21 billion for the 12 months period, up by 35.2% from N14.21 billion reported the previous year.

Profit after tax grew year on year by 85.95% to N2.09 billion from N1.12 billion reported the previous year.

Earnings per share of the company stand at N2.56, up by 85.95% from the EPS of N1.38 achieved the previous year.

At the share price of N19.55, the P/E ratio of CAP Plc stands at 7.63x with earnings yield of 13.11%.

BERGER PAINTS

Berger Paints Nigeria Plc reported a turnover of N6.33 billion for the 12 months period, up by 27.41% from N4.96 billion reported the previous year.

Profit after tax grew year on year by 132.66% to N315.57 million from N135.64 million reported the previous year.

Earnings per share of the company stand at N1.09, up by 132.66% from the EPS of N0.47 achieved the previous year.

At the share price of N6.95, the P/E ratio of Berger Paints stands at 6.38x with earnings yield of 15.67%.

GUINNESS (Q2)

Guinness reported a revenue of N118.45 billion in its Second Quarter result, up by 8.55% from N109.12 billion reported the previous year.

Profit after declined year on year by 54.37% to N4.025 billion from N8.821 billion reported the previous year.

The earnings per share of Guinness for the period under review stands at N1.84, down by 54.37% from the EPS of N4.03 reported the previous year.

At the share price of N70, the P/E ratio of Guinness stands at 38.10x with earnings yield of 2.62%.

UNIVERSITY PRESS (Q3)

University Press in its Third Quarter report for the period ended 31 December 2022 reported a turnover of N2.015 billion. This represents a marginal growth of 1.54% from N1.984 billion reported the previous year.

Profit after tax of N220 million was reported for the 9 months period, down by 13.70% from N255.17 million reported the previous year.

Earnings per share of the company stands at 51 kobo, down by 13.70% from the EPS of 59 kobo reported the previous year.

At the share price of N1.9, the P/E ratio of University Press stands at 3.72x with earnings yield of 26.87%.

ACADEMY PRESS (Q3)

Academy Press in its Third Quarter report for the period ended 31 December 2022 reported a turnover of N3.28 billion. This represents a growth of 19.06% from N2.75 billion reported the previous year.

Profit after tax of N134 million was reported for the 9 months period, down by 3.59% from N138 million reported the previous year.

Earnings per share of the company for the period under review stands at 18 kobo, same as the EPS achieved the previous year.

At the share price of N1.32, the P/E ratio of Academy Press stands at 7.45x with earnings yield of 13.43%.

Source: Impressive Q4 2022 earnings to drive price growth on NGX – StocksWatch (stocksng.com)

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