Weekly Market Review & Stock Recommendations – June 14, 2022

By Yahya Abdulrahman All Research, Weekly Report and Stock Recommendation Comments Off

Some of our recommended stocks are mentioned below;

Flour Mills of Nigeria Plc FY 2022 results showed that revenue grew by 50.83% from N771.61bn in FY 2021 to N1.16trn in FY 2022. Similarly, gross profit went up by 1.25% to N108.09bn in FY 2022 from N106.76bn in FY 2021. Profit from operations rose by 25.51% from N52.20bn in FY 2021 to N65.51bn in FY 2022. Profit before tax grew by 10.55% to N41.12bn in FY 2022 from N37.19bn in FY 2021. Profit after tax rose by 8.94% from N25.72bn in FY 2021 to N28.02bn in FY 2022. However, Earnings per share decreased by 1.88%, from N6.38 in FY 2021 to N6.26 in FY 2022. Flourmill has a BVPS of N47.78, P/BV of 0.73x and P/E ratio of 5.59x.

Nem Insurance Plc Q1 2022 results showed an increase in gross premium income by 26.91% from N9.63bn in Q1 2021 to N11.88bn in Q1 2022. Underwriting profit advanced from N250.49 million in Q1 2021 to N2.71bn in Q1 2022, reflecting an increase of 982%. Investment income decreased by 31.78% from N288.33 million in Q1 2021 to N196.71 million in Q1 2022. PBT went up by 39.02% from N1.29bn in Q1 2021 to N1.80bn in the current period. PAT grew by 41.5% from N1.09bn in Q1 2021 to N1.55bn in Q1 2022. EPS grew by 41% to N0.31 in Q1 2022 from N0.22 in Q1 2021. Nem Insurance Plc has a BVPS of N4.87, P/BV ratio of 0.79x and P/E ratio of 3.12x.

Please find here our weekly stocks recommendation

Weekly Market Review & Stock Recommendations – June 14, 2022

Weekly Market Review & Stock Recommendations – June 14, 2022

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