CHI is proposing an interim dividend of 10 kobo
UAC's rally can be partly attributed to news of plans to acquire ChivitaHollandia
Good morning and welcome to this week’s Bulls and Bears. If you have any questions, please feel free to tweet at me. You can also send an email to info@greentickertales.com or use the anon link.
Trading in the top three equities, namely FCMB Group Plc, Fidelity Bank Plc and Universal Insurance Plc (measured by volume), accounted for 1.245 billion shares worth N15.825 billion in 9,250 deals, contributing 25.69% and 10.57% to the total equity turnover volume and value respectively.
The NGX All-Share Index and Market Capitalization appreciated by 5.07%. The index measures the average performance of stocks on the exchange.
UAC of Nigeria was the best performing stock last week. It appreciated by 60.69% to close at N88.30.
Other notable gainers were Wema Bank and Lafarge Africa.
On the flip side, Abbey Mortgage Bank was the worst performing stock last week. It declined by 34.13% opening at N8 and closing at N5.27, down N2.73.
11,500,000 Seplat Energy Plc shares were on Friday 01 August 2025, listed on the Daily Official List of the Nigerian Exchange Limited (NGX).
The additional shares listed on NGX arose from Seplat Energy Plc’s Employee Share-Based Payment
Following the listing, the total issued, and fully paid-up shares of Seplat Energy Plc has now increased from 588,444,561 to 599,944,561 shares.
MRS Oil Nigeria Plc shares were on Monday, 28 July 2025, delisted from the Daily Official List of NGX.
Earnings
There was a flurry of earnings released last week. I cant run through all of them as the thread would be unbearably long.
Start with the most recent which came in yesterday. Mutual Benefits Assurance dropped its H1 2025 earnings.
Profit after tax was up 372% due to higher insurance income. Profit after tax rose from N2.4 billion in 2024 to N11.5 billion in 2025
To the downstream oil and gas players on the NGX. Downstream in the oil and gas terminlogies has to do with companies that are involved in the sale of petroleum products like petrol, kerosine and the like.
Total energies Nigeria had a 20% dip in revenue year on year to N423 billion. Year on year means comparing the current financial year with the same period last year
The company also recorded a N2.8 billion loss after tax. The reason behind this was a spike in finance costs. More specifically interest on bank overdrafts.
Conoil also had a decline in revenue. That dropped 20.45% from N180.5 billion in 2024 to N143.6 billion in 2025.There was also a sharp dip in profit by 88.78% to a bit over N900 million.
Same causal factor was a spike in finance costs. More specifically, interest on bank overdrafts.
Eterna
Eterna bucked the trend. The company made higher revenue and returned to profit. The company made N133.4 billion in revenue up 6.8% from last year and profit after tax of N573 million
The company was also able to lower its finance costs.
This week’s thread would be incomplete in earnings coverage, if i didnt dip into MTN Nigeria H1 2025.
Promised my youtube peeps a video, and it should be out sometime this week. Latest Wednesday. Spotify peeps will get a broad episode later this evening. So much to unpack.
Biggest takeaway for me from the earnings release and im sure analysts will need to rework their valuations is this paragraph
Upgraded guidance: FY 2025 – service revenue growth and EBITDA margin of ‘at least low-50%’ for both | Medium-term (from FY 2026) – service revenue growth of ‘at least low-20%’, EBITDA margin in the 53-55% range
H1 2025 earnings per share was N19.78
Q2 2025 earnings per share was N13.41
One can can guesstimate that FY 2025 earnings per share will be between N30 to N35.
What's happening this week
Firstholdco has an earnings call scheduled today
ETI has an earnings call scheduled Friday
Consolidated Hallmark has announced an interim dividend of 10 kobo.
Switching lanes to the US
Apple and Meta earnings for the last quarter came in better than expected. Haven't listened to the Apple call, so i cant speak much to the numbers.
Jumped on the Meta call and most of the convo was around AI. Management says they are seeing some positive impact from increased AI usage on advertising revenue. Theyd also be raising capex spend.
What’s happening this week?
It remains a fairly busy one in terms of earnings
Tyson Foods will drop earnings before US market open, while Palantir will release theirs after US market close.
On Tuesday, Pfizer, Caterpillar and Lemonade drop earnings before market open.
After market close, Snap, AMD and Upstart will drop theirs.
On Wednesday before market open, Uber, Shopify, DIsney and Oscar will drop earnings.
After market close, Draftkings and Fortinet will file their earnings.
On Thursday,
Celsius, Eli Lilly and Conoco Phillips will file their earnings before market open.
After market close, trade desk, Atlassoam. Block and Pinterest will elease theirs
On Friday before market close, Canopy Growth and Wendy’s will file their earnings before market open.
This thread will be up on my substack by 10am WAT and on greentickertales.com by 11am WAT
For a daily market summary of the NGX, please follow @greentickertale on twitter.
The greentickertale podcast is up on
Spotify
Apple Podcast
Youtube Music
https://music.youtube.com/playlist?list=PLfbPahRg5S7PZW8pKS09PkplLNLi1nUQ5
You can find me on every other platform greentickerwarrior
Youtube
Tiktok
For one on one convos use this link
For group/community convos use this link
Have a good trading week ahead.