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31 May

Weekly Market Review & Stock Recommendations – May 30, 2022

Some of our recommended stocks are mentioned below; 
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 Stanbic IBTC Plc Q1 2022 result showed that gross earnings advanced by 47.72% from N45.52bn in Q1 2021 to N67.23bn in the current period. Net interest income increased by 47.75% to N23.43bn in Q1 2022 from N15.86bn in Q1 2021. In a similar tune, trading income increased by 226% from N3.22bn in Q1 2021 to N10.5bn in the current period. Profit before tax advanced by 61.41% from N12.14bn recorded in Q1 2021 to N19.6bn in the current period. Likewise, profit after tax grew by 33.87% from N11.26bn in Q1 2021 to N15.07bn in Q1 2022 despite an increase in income tax expense by 411.4%. Consequently, earnings per share went up by 35.37% from N0.82 in Q1 2021 to N1.11 in Q1 2022. Stanbic IBTC Plc has a BVPS of N30.56, P/BV of 1.13x and P/E ratio of 7.77x. 
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 MTNN Plc Q1 2022 results showed an increase in revenue by 22.23% from ₦385.32bn in Q1 2021 to ₦470.98bn in Q1 2022. Operating profit advanced from ₦133.11bn in Q1 2021 to ₦179.33bn in Q1 2022, reflecting an increase of 34.72%. Profit before tax grew by 39.42% from ₦102.99bn in Q1 2021 to ₦143.59bn in the current period, despite a 28.65% increase in finance costs. Profit after tax rose by 31.28% from ₦73.75bn in Q1 2021 to ₦96.82bn in Q1 2022. EPS increased by 31.49% to ₦4.76 in Q1 2022 from ₦3.62 in Q1 2021. MTNN has a BVPS of ₦17.54, P/BV of 13.51x, and P/E ratio of 12.45x.
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