Cadbury Nigeria Plc’s Market Value Rises 10% Ahead of Earnings
Cadbury Nigeria Plc’s market valuation surged by about 10% as investors’ sentiment on fast moving consumer goods (FMCG) players stock improved in the domestic market.
Data from the Nigerian Exchange (NGX) showed that Cadbury Nigeria Plc’s share price climbed to N18.25 on Friday, from N16.60 at the beginning of the week. The positive price movement reported last week pushed its market valuation higher to N41.615 billion on Friday.
The consumer goods company told the Nigeria Exchange Limited, shareholders, and other relevant insiders that the meeting of the Board of Directors will take place on July 23, 2024.
At the current price level, Cadbury Nigeria Plc is trading at a 43% discount to its 52-week high on the Nigerian Exchange. The consumer good stock had peaked at N31.95 in the last 12 months before it diffused.
Broadstreet analysts have negative expectations about consumer good industry future performance due to weak macroeconomic conditions with fluctuating local currency.
Although the price has plunged, the company traded ahead of its 52-week low of N11.25 per share. At the meeting, the board will consider, among other things, the unaudited financial statements (UFS) of the company for the quarter ended June 30, 2024.
Cadbury Nigeria commenced a close period for insiders trading on the company shares starting on July 1 2024, and will continue until twenty-four hours after the 2024 Q2 UFS has been released to the public. #Cadbury Nigeria Plc’s Market Value Rises 10% Ahead of Earnings Reforms: Fitch Revises Nigeria’s Outlook to Positive
