CADBURY NIGERIA PLC'S MARKET VALUE RISES 10% AHEAD OF EARNINGS
Cadbury Nigeria Plc's market valuation surged by about 10% as investor sentiment towards FMCG stocks improved in the domestic market. According to data from the Nigerian Exchange (NGX), Cadbury's share price climbed to N18.25 on Friday, up from N16.60 at the beginning of the week. This positive price movement increased its market valuation to N41.615 billion.
The company announced that its Board of Directors will meet on July 23, 2024, to consider the unaudited financial statements for the quarter ended June 30, 2024. Currently, Cadbury Nigeria Plc is trading at a 43% discount to its 52-week high of N31.95, though it remains above its 52-week low of N11.25 per share.
Broad street analysts hold negative expectations for the consumer goods industry due to weak macroeconomic conditions and a fluctuating local currency. Cadbury Nigeria has also commenced a close period for insider trading on its shares from July 1, 2024, which will continue until 24 hours after the Q2 2024 financial statements are released to the public.
Cadbury Nigeria Plc's market valuation surged by about 10% as investor sentiment towards FMCG stocks improved in the domestic market. According to data from the Nigerian Exchange (NGX), Cadbury's share price climbed to N18.25 on Friday, up from N16.60 at the beginning of the week. This positive price movement increased its market valuation to N41.615 billion.
The company announced that its Board of Directors will meet on July 23, 2024, to consider the unaudited financial statements for the quarter ended June 30, 2024. Currently, Cadbury Nigeria Plc is trading at a 43% discount to its 52-week high of N31.95, though it remains above its 52-week low of N11.25 per share.
Broad street analysts hold negative expectations for the consumer goods industry due to weak macroeconomic conditions and a fluctuating local currency. Cadbury Nigeria has also commenced a close period for insider trading on its shares from July 1, 2024, which will continue until 24 hours after the Q2 2024 financial statements are released to the public.