UNIL Sustains Price Gains On The Local Bourse

UNIL remained resilient in terms of its share price performance in a period where the market indices have tumbled for three weeks with investors cashing in on gains on some stocks. The sustained rise in its price over this period has been supported in part by its positive earnings report for Q1-2018 and the significant rise in dividends declared for the 2017 financial year.

In Q1-2018, UNIL’s profits grew by 64% rising to GHS 10.57 million from 6.45 million in Q1-2017. The significant growth in its profits was largely driven by an increase in revenue which rose from GHS 138.28 million in Q1-2017 to GHS 165.25 million in Q1-2018. Its earnings per share increased from GHS 0.41 in Q1-2017 to GHS 0.68 in Q1-2018.  It declared a dividend of GHS 0.25 for the 2017 financial year representing a 400% rise from the dividend of GHS 0.05 declared for the 2016 financial year. It has rewarded investors a YTD return of 37.31%. It is anticipated that UNIL will maintain its positive YTD returns in the coming months buoyed by its current financial performance.

The Composite index and the Financial stock index closed down at 3,115.90 and 2,855.43, losing 57.36 points and 6.56 points respectively at the end of yesterday’s trade. The overall market return based on the Composite index at the end of yesterday’s trade stood at 20.78%. There were 3 gainers [CAL, SPL & BOPP] and 4 losers [FML, ACCESS, TOTAL & GOIL]. EGL topped the charts in terms of volumes as 41,200 shares worth GHS 123,600 changed hands.

On the Ghana Alternative Market

Trading on the Ghana alternative Market was hushed as no shares changed hands.

On the Currency market

The Cedi appreciated marginally against the Euro but lost to the Dollar and the British Pound at the end of yesterday’s trade. The local currency exchanged at a mid-rate of GHS 4.4301 to the USD, GHS 5.9186 to the GBP and GHS 5.1745 to the EURO. The GCFM Cedi index, a measure of the holistic performance of the Cedi on the interbank market now records a year-to-date appreciation of 0.67%

 

Story: GN Research

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