Brands

Transcorp, Chams, CWG post over 700% return on Investment.

It was a harvest of capital gains for the shareholders of Transcorp Hotels Plc, Chams Holding Company Plc and CWG Plc, as they led the 10 companies that topped the winners’ chart on Nigeria Exchange Limited (NGX) in capital appreciation in 2023, with price gain that ranged from 721.8 per cent to 1,022 .9 per cent.

Transcorp Hotels Plc posted the highest capital appreciation as the share price jumped from N6.25 in 2022 to close at N70.18 on the last trading day of 2023, an increase of 1022.9 per cent.

Read:  Zenith Bank appoints Henry Oroh Executive Director and Dr. Al-Mujtaba Abubakar Independent Non-Executive Director

Chams Holdings Plc had sustained its stellar performance in 2023 as the frontline financial technology company with its share price rising by 795.5 per cent, from N0.24 at the beginning of 2023 to close at N1.97.

Chams fundamentals are waxing stronger with a gross profit of N1.84 billion in nine months in 2023, a year-on-year growth of 181.3 per cent from the corresponding period in 2022.

In a recent media interview, the Company’s Group Managing Director, Mayowa Olaniyan, attributed the performance to the gains from the ongoing transformation in the entire group, which comprises ChamsSwitch, Chams Access, Card Centre, and ChamsMobile, its subsidiaries.

The third best price gainer in the review period was CWG PLC, formerly Computer Warehouse Group. From N0.92 at the start of 2023, the share price hit N3.96 at the end of the trading day, an increase of 721.8 per cent.

Read:  Amstel Malta Ultra to sponsor Team Nigeria for Olympic Games Tokyo 2020.

The company is one of the pioneers in the IT ecosystem. Other companies that made the league of the top ten were: Transnational Corporation of Nigeria (TRANSCORP) with 676.4 per cent, MRS Oil (644.7 per cent); Northern Nigeria Flour Mills (639.8) as well as Japaul Gold and Ventures (507.1 per cent).
Others are Ikeja Hotels (571.4 per cent), FTN Cocoa Processing (410.3 per cent) and Infinity Trust Mortgage Bank (372.4 per cent).

Read:  Julia Oparah Appointed Provost Of University Of San Francisco.

Despite the headwinds that characterised the business environment in 2023, NGX all-share Index, a measure of capital gains, was up by 45.9 per cent to close at an all-time high of 74,773.77 points while the market capitalisation closed at N40.92 trillion.

Related posts

Verdant Capital advises Baxi, a leading super-agent in Nigeria, on its sale to MFS Africa.

NigGal

Ford Bronco ignites Lagos Motor Fair.

NigGal

P&G’s New Partnership Deal To Boost Capacity Of Manufacturing Sector.

NigGal

Guinness Nigeria Plc reports profit of N15.28billion in 9 months ended March 2022

NigGal

Chivita 100% wins Outstanding Juice Brand of the Year Award

NigGal

Mouka Unveils Novel Technology In Furtherance Of Quality Mandate.

NigGal

Leave a Comment