Academy Press Hits 52-Week High as Investors React to Earnings
Academy Press Plc has reached a new 52-week high in the equities market after the company’s share price soared by 50.5% in a fresh rally.
According to trading data obtained from the Nigerian Exchange, the printing and publishing stock price soared to N4.32 on Friday as more than 4.168 million units valued at N18.007 million were traded on the trading platform.
The company share price had opened at N2.87 at the beginning of the week but closed at N4.37 in an all-week rally in the equities market.
Hence, the company’s 756 million outstanding shares in the Nigerian stock market were valued at N3.265 billion after equities investors hunted for upside potential on the expectation of better future earnings performance.
Academy Press Plc has recently released its unaudited report for the third quarter, which showed earnings per share rose by 330% year on year to close at N1.59 kobo, from N0.37 in 2023.
This followed a 430% year-on-year increase in profit after tax, which settled at N1.201 billion from N226.708 million in the equivalent period, according to its latest regulatory filing submitted on the Nigerian Exchange.
The bottom line grew strong despite a moderate year-on-year increase in the company’s revenue. Academy Press Plc revenue grew by 2% year on year to N4.586 billion from N4.508 billion in the equivalent period.
#Academy Press Hits 52-Week High as Investors React to Earnings Equities Investors Gain N1.04trn as Nigerian Stocks Boom
