Good morning and welcome to today’s Bulls and Bears. This is a weekly thread on the NGX and US equities. 

If you have any questions, you can tweet at me. You can also send an email to info@greentickertales.com or use the anon link below.

Starting with the NGX

The All Share Index gained 1.46%. The index measures the average performance of stocks on the exchange. 

International Breweries was the top gainer for last week. It appreciated by 40%, opening at N5.50 and closing at N7.70, up N2.20.

VFD declined by 82.19%. This was due to a markdown for a N2.50 dividend and 5 for 1 bonus (5 additional shares for every 1 share held).

Discounting that, John Holt led the losers. It declined by 18.6% opening at N7.74 and closing at N6.30, down N1.44

Markdowns 

Aside VFD, other stocks marked down during the week were CAP, Mecure, Infinity Trust, Total Energies Marketing Nigeria Plc, Berger Paints and Okomu Oil Palm. 

A markdown is when a stock’s share price is adjusted downards for a dividend or bonus.

New listing

2,000,000,000 oLegend Internet Plc shares were listed by Introduction at N5.64 per share on the Main Board of Nigerian Exchange Limited on Thursday, 24 April 2025. The company also held a facts behind the listing session.

Earnings

Africa Prudential dropped its Q1 2025 results. Total revenue went up 76% from N 739 million in 2024 to N1.3 billion in 2024.

Profit after tax went up by 143% from N197 million in 2024 to N479.8 million in 2025. 

NASCON Allied Industries dropped Q1 2025 earnings

Revenue rose by 77.2% from N23.6 billion in 2024 to N41.8 billion in 2025.

Profit after tax rose 515% from N1.2 billion in 2024 to N7.5 billion in 2025

Earnings per share went up from N1.86 in 2024 to N3.74 in 2025

Key drivers of the numbers were higher revenue, lower operating losses and costs growing at a much slower pace compared to revenue. 

Champion Breweries Q1 2025

Revenue went up by 93.7% from N4.3 billion in 2025 to N8.4 billion in 2025

The firm made a profit after tax of N984 million in 2025 as against a N823 million loss in 2024.

Earnings per share was 11 kobo for Q1 2025.

Seplat Q1 2025 

Revenue went up nearly 4X from $179 million in Q1 2024 to $809 million in 2025

Profit after tax was $23.3 million in Q1 2025 as against a $1.9 million loss recorded in 2024. 

Redstar Express Unaudited FY 25

Turnover went up 25% from N16.1 billion in 2024 to N21.6 billion in 2025

Profit after tax rose 45.6% from N343 million in 2024 to N631 million in 2025

EPS was up 45.4% from 36 kobo in 2024 to 66 kobo in 2025

Access Holdings (parent company of Access Bank) and First Holdco (parent company of First Bank) held earnings calls last week.

NGX this week 

The week has kicked off with Seplat energy dropping Q1 2025 results. We expect more companies to do likewise.

Presco, CAP, May and Baker will hold board  meetings to consider Q1 2025 results today. 

Some of the GAZ Banks (GTCO, Access Holdings, Zenith) could also drop their Q1 2025 results within the week. 

Sterling Bank. FY 24 audited numbers pending. Possible those can drop during the week. 

MTN Nigeria, Mecure Vitafoam Dangote Sugar will hold board meetings to consider Q1 25 results on Tuesday

Results could drop same day or a few days after.

Aradel. Q1 2025 results  according to a notice sent to the exchange last week will be filed on or before Wednesday

BUA Foods will hold a board meeting to consider Q1 25 results on Wednesday.

United Capital held a board meeting on Q1 2025 results held last week. So expect the numbers anytime from now. The firm typically files its results early.

Moving to the US

Last week, the  S&P 500 gained  +4.6%

The Nasdaq Composite rose +6.7%. 

The Dow rose +2.5%. 

What’s happening on Wall Street this week ?

Its a packed one in terms of earnings. The spotlight will be on  four of the Magnificent 7: Apple, Microsoft, Meta and Amazon.

Dominos Pizza will drop earnings today before the US market open today

Sofi, Spotify, Coca Cola, Pfizer, Visa, Starbucks and Snapchat. Earnings on Tuesday.

Garmin, Caterpillar, UBS, Total Energies, Wingstop, earnings before the US market open on Wednesday.

After  US market Close Microsoft, Meta, Robinhood, Qualcomm will drop their most recent earnings. 

On Thursday Mastercard and Roblox will drop their earnings  before US market Open

Amazon, Apple, Duolingo, Reddit, Roku will release theirs after market close 

Friday

Exxon Mobil, Chevron, Shell, Cisco, FUBO TV. Before US market open.