Good morning and welcome to this week’s bulls and bears. This is a weekly roundup of events in the NGX and US equity space.

If you have any questions, you can tweet at me us or use the link

You can also send an email to info@greentickertales.com 

Starting with the NGX 

The All Share Index gained 2.94%. The index measures the average performance of stocks on the exchange. 

University Press led last week’s gainers appreciating by 35.32%. The stock opened at N4.36 and closed at N5.90, up N1.54.

Abbey Mortgage Bank led the losers. The stock declined 26.87% opening at N7.63 and closing at N5.58, down N2.05. 

Seplat, Multiverse and NPF Microfinance Bank were all marked down during the week. A markdown is when a stock’s price is adjusted downwards for either a dividend or bonus. 

Ex mark down price for Seplat was N5,515.99, Multiverse N8.90 and NPF Microfinance N2.28.

Standard Alliance Insurance Plc change of name to Fortis Global Insurance Plc has been implemented by Nigerian Exchange Limited. The company’s trading symbol has also been changed from STDINSURE to FTGINSURE.

On to earnings

Sovereign Trust Insurance, Coronation Insurance, Honeywell Flour and NNFM dropped their earnings. 

Sovereign Trust Insurance made a profit after tax of N2.3 billion in FY 2024, up 79% from the N1.2 billion made in 2023. 

Earnings per share rose by 79% from 9.13 kobo in 2023 to 16.31 kobo in 2024.

The company has proposed a 5 kobo dividend, up 2 kobo from the 3 kobo it paid in the previous year. 

Coronation Insurance full year profit went up by over 550% from N1.1 billion in 2023 to N11.9 billion in 2024. Earnings per share rose 525% from 8 kobo in 2023 to 50 kobo in 2024.

NNFM full year revenue went up by 36.3% from N25.9 billion in 2024 to N36.3 billion in 2025.

Profit after tax rose marginally from N1.5 billion in 2024 to N1.7 billion in 2025, up 14.3%

Earnings per share rose by roughly same margin. From N8.56 in 2024 to N9.79 in 2025.

The firm has proposed a final dividend of 25 kobo, bringing total dividend for the year to 75 kobo (it had paid an interim dividend of 50 kobo). 

Honeywell Flour Mills grew full year revenue by 98% from N188.3 billion in 2024 to N373 billion in 2025. 

The company also returned to profit as it recorded a profit after tax of N14.7 billion in 2025 as against a loss after tax of N10.1 billion recorded in 2024.

The firm will not be paying a dividend in order to conserve cash. 

Cutix dopped its unaudited fy 25 numbers

Revenue rose 30% from N12.1 billion in 2024 to N15.7 billion in 2025. 

Profit after tax rose at a much slimmer rate. Up 6% from N1 billion in 2024 to N1.1 billion in 2025.

Pressure point was cost of sales. That went up sharply in Q4 

Transnationwide Express had a dip in revenue and increase in losses in Q1 

Revenue fell 25.8% from N66.7 million in 2024 to N49.5 million in 2025

Loss after tax worsened. It rose by 69.5% from N30.4 million in 2024 to N51.6 million in 2025.

Insider trades

You had a bunch of insider trade filings by Aradel, VFD, Abbey Mortgage Bank, McNichols, UBA, United Capital. Haldane MCCall, ABC Transport and Custodian Investment. 

Those notable by size where UBA where Heirs Holdings acquired 45 million shares valued at over N1 billion. Heirs Holdings is an investment vehicle ultimately controlled by Tony Elumelu.

Olakunle Ade-Ojo  acquired over 220 million Custodian Investment shares valued at over N4.3 billion. 

Did a video on the Custodian transaction here….

Neimeth’s odd proposal

Neimeth International Pharmaceuticals Plc. (“the Company”) will be held at NECA House, Plot A2, Hakeem Balogun Street, Alausa, Lagos on Monday, 23rd June 2025 at 11:00am to transact the following businesses: 

The company filed a notice for the AGM, but the following proposed resolutions struck me as odd.

A Non- Executive Director of the Company shall be required to hold a minimum of 10% of the Company’s share capital, which must be fully paid up within 2 months of the date of his/her appointment or 60 days of the date the share qualification is required. 

If such qualification is not met, the Non- Executive Director’s position/office shall be vacated, unless the Board of Directors by special resolution grants a waiver for a given number of years

For a stock that isnt  very liquid, what could be the board’s reason for doing this? 

What’s happening this week? 

We should have more earnings from the insurance space released. 

Livestock Feeds has its AGM tomorrow.

UACN holds its AGM on June 4.

May and Baker and CAP have their AGMs on June 5.

Moving to the US 

Last week, the  the S&P 500 gained +1.9%

the Nasdaq Composite rose +2.0%. 

The Dow appreciated  added +1.6%. 

Nvidia earnings came in better than analyst estimates

• Earnings per share: 96 cents adjusted vs. 93 cents expected
• Revenue: $44.06 billion vs. $43.31 billion expected

Popped into the call, you can get my thread here.

So what’s happening in the US this week?

Its a fairly light week in terms of earnings

Campbell’s company (the firm behind the popular Campbell soup) will be dropping its earnings before market open today.

Crowdstrike will drop its earnings after market close on Tuesday.

On Thursday, Lululemon and Broadcom will drop their earnings. 

You can catch me on twitter: @quansimodo everywhere else at greentickerwarrior 

Instagram/Tiktok/Youtube. 

Have a great week ahead.