Livestock Feed Soars by 22% on Fresh Rally
Livestock Feeds Plc.’s market value soared by more 22% in the equities market due to fresh rally. Its share price reached N110.20 on Friday as more than 2.1 million shares valued at about N21.5 million exchanged hands.
The stock maintained positive postures showing investors taking position ahead of first quarter of 2025 earnings release. Transactions on Livestock has been impressive since it returned to profitability.
The stock is tracking behind N10.83, its 52-week high on the Nigerian Exchange, a potential buying opportunities for alpha seekers. The positive price movement pushed Livestock Feeds market value to N30.599 billion.
In 2024, Livestock returned to profitability with strong top line growth helped by price adjustments, reversing its unimpressive earnings performance in 2023.
Its unaudited financial statement showed that Livestock Feeds net income surged to N1.745 billion in 2024 from N230 million loss it sustained in 2023.
This happened as the company doubled down on its revenue, up by 104% year on year to N41.669 billion from N20.409 billion in 2023. Costs of sales also rose sharply, but at a slow pace.
This boosted profit margin, and eased pressure from rising overheads. Costs of sales rose by 84% to N35.218 billion in 2024 from N19.138 billion in 2023.
Hence, its gross profit came in at N6.451 billion from N1.271 billion in the comparable period. With stronger year on year operating profit, and zero minimum tax payment expense, profit for the year came better, settling at N1.745 billion. #Livestock Feed Soars by 22% on Fresh Rally#
