Meyer Plc (previously DN Meyer) is a manufacturer and marketer of paints. Meyer Plc is an offshoot of the former Hagemeyer Nigeria Limited, the manufacturer of Sigma Paints and Cosmetics.
The company touts to be one of the leaders in the production of high-quality paints, including architectural paints, wood paints, auto refinishes, industrial and marine, road lining paints, roof coatings, tube coatings, hp coatings and adhesives.
The rally in its share price came after the company released its audited financial report for the year 2021. The report revealed a significant increase in its revenue.
The company was able to grow its revenue by 35.10% from 827.6 million to 1.12 billion Year-on-Year. Notably, the company’s profit after tax (PAT) declined by approximately 97% from 1.12 billion in 2020 to 33.7 million in 2021.
The reason for the significant decline is because the company did not dispose of any buildings in 2021. In 2020, the company recorded a profit of approximately 1.8 billion from the disposal of one of its buildings.
This outlier proved to have a significant impact on the company’s top line items. Taking away the disposal, the company would have been able to post a loss (loss before tax) of 143.45 million in 2020.
The upshoot in its share price has put its market capitalization at 600,298,626.99 with shares outstanding of 531,237,723.
After the company’s results was posted, its trading volume spiked, with more shares changing hands than average. The highest volume was posted on Monday, as it recorded a volume of 304,861. However, the volume seems to be reducing as it recorded 114,060 volume on Friday, the lowest during the week.
Meyer PLC, a listed company on the Nigerian Exchange Group (NGX), posted gains of 56.94% in a week as its share price opened the week trading 0.72 and it ended trading week on Friday closing at 1.13 per share.
Meyer PLC is the top performer of the 33 equities that appreciated in price during the week, higher than twenty (20) equities in the previous week. The company posted these astronomical gains despite the general market decline seen during the week. For the week, the equity market All-Share Index (ASI) lost 0.45% from trading 46,842.86 basis points at the start of the week, to close the week trading at 46,631.46 basis points.
Also, during the week, 31 equities depreciated in price, lower than 50 equities in the previous week. 92 equities remained unchanged higher than eighty-six 86 equities recorded in the previous week.
Meyer began the year with a share price of 0.46 and has since gained 146% on that price valuation, ranking it fourth on the NGX in terms of year-to-date performance.
Shareholders can be optimistic about Meyer knowing the stock has accrued an outstanding 105% over the past four-week period alone, the second best on the NGX.
Meyer is the 103rd most traded stock on the Nigerian Stock Exchange over the past three months. MEYER has traded a total volume of 2.83 million shares, in 136 deals, valued at 2.14 million over the period, with an average of 44,967 traded shares per session. A volume high of 721,212 was achieved on April 1st, after its results was released.
The company touts to be one of the leaders in the production of high-quality paints, including architectural paints, wood paints, auto refinishes, industrial and marine, road lining paints, roof coatings, tube coatings, hp coatings and adhesives.
The rally in its share price came after the company released its audited financial report for the year 2021. The report revealed a significant increase in its revenue.
The company was able to grow its revenue by 35.10% from 827.6 million to 1.12 billion Year-on-Year. Notably, the company’s profit after tax (PAT) declined by approximately 97% from 1.12 billion in 2020 to 33.7 million in 2021.
The reason for the significant decline is because the company did not dispose of any buildings in 2021. In 2020, the company recorded a profit of approximately 1.8 billion from the disposal of one of its buildings.
This outlier proved to have a significant impact on the company’s top line items. Taking away the disposal, the company would have been able to post a loss (loss before tax) of 143.45 million in 2020.
The upshoot in its share price has put its market capitalization at 600,298,626.99 with shares outstanding of 531,237,723.
After the company’s results was posted, its trading volume spiked, with more shares changing hands than average. The highest volume was posted on Monday, as it recorded a volume of 304,861. However, the volume seems to be reducing as it recorded 114,060 volume on Friday, the lowest during the week.
Meyer PLC, a listed company on the Nigerian Exchange Group (NGX), posted gains of 56.94% in a week as its share price opened the week trading 0.72 and it ended trading week on Friday closing at 1.13 per share.
Meyer PLC is the top performer of the 33 equities that appreciated in price during the week, higher than twenty (20) equities in the previous week. The company posted these astronomical gains despite the general market decline seen during the week. For the week, the equity market All-Share Index (ASI) lost 0.45% from trading 46,842.86 basis points at the start of the week, to close the week trading at 46,631.46 basis points.
Also, during the week, 31 equities depreciated in price, lower than 50 equities in the previous week. 92 equities remained unchanged higher than eighty-six 86 equities recorded in the previous week.
Meyer began the year with a share price of 0.46 and has since gained 146% on that price valuation, ranking it fourth on the NGX in terms of year-to-date performance.
Shareholders can be optimistic about Meyer knowing the stock has accrued an outstanding 105% over the past four-week period alone, the second best on the NGX.
Meyer is the 103rd most traded stock on the Nigerian Stock Exchange over the past three months. MEYER has traded a total volume of 2.83 million shares, in 136 deals, valued at 2.14 million over the period, with an average of 44,967 traded shares per session. A volume high of 721,212 was achieved on April 1st, after its results was released.