Tripple Gee Share Price Spikes 232%
Equity investors in the stock market have reacted positively to Tripple Gee and company Plc’s strong earnings growth. After the earnings surge reported in January, Tripple Gee’s (Ticker: TRIPPLEG) shares have become so popular in the stock market among value hunters.
The earnings surge whipped up a sentiment that has helped its upward share repricing in the market. From the beginning of the year to date, the company which prints security documents among other things has seen a share price increase of 231.65%, up from 79 kobo to N2.62 kobo on Friday.
Now, the company is valued at N1.296 billion over 494,954,000 shares outstanding in the Nigerian Exchange. In its unaudited result for the third quarter of 2022, the company’s after-tax profit increased significantly. Tripple Gee’s profit after tax jumped 178% year on year, according to its regulatory filing.
The market continues to rerate the company’s valuation amidst large share purchases by investors. With the boom in the local bourse, Tripple G has recorded multiple daily gains as investors remain positive on its earnings performance.
Founded by Gbadebo Ganiyu Giwa, the company which engages in the production of security documents, financial instruments, and computer stationery, about 32% last week.
Some analysts told MarketForces Africa that the uptick will likely continue as the local bourse continues to gain traction. Tripple Gee and co offer security print, packaging print, and radio frequency identification smart label solutions.
In its third quarter unaudited financial statement, Tripple Gee doubled down on its revenue-generating capabilities. Sales revenue increased significantly, up by 115% to N2.193 billion from N1.020 billion in the comparable period in 2021.
The significant jump in topline lit up its earnings per share in the third quarter of the year that ended in December 2022. The unaudited result indicated that the company delivered a 178% increase in earnings per share to N20.44 from N7.34 reported 12 months earlier.
Its operating profit which printed at N190.19 million from N74.104 million was supported by a 3% decline in distribution and administrative expenses. The company also reduced its finance costs by 124% year on year while other income sources nosedived.
A large reduction in the company’s costs of financing its operation supported growth in bottom line in the period. Year on year, Tripple Gee’s profit before tax inched upward 167%, from N51.896 million to N138.578 million in December 2022.
Tripple Gee’s strong share capital gain is a test of investing audacity among value hunters.
Profile: Tripple Gee and Company Plc is a Printer of Security Documents, Financial Instruments, Computer Stationery, Self-Adhesive Labels and Telephone Recharge Cards. # Tripple Gee Share Price Spikes 232%
