McNichols Consolidated Plc, food/Drug Retailers and wholesalers company in the consumer goods sector has disclosed the purchase of 90,012 shares at N0.51 per share which amounted to N45,906.
This is in accordance with the Nigerian Stock Exchange policy on insider dealing.
In a statement to the Nigerian Stock Exchange, the purchase by one of its substantial shareholders, Chimaraoke Ijeoma was carried out on August 12, 2020.
It is also worthy of mention that Chimaraoke Ijeoma had earlier sold part of his/her shares in the company as follows:
May 12, 2020
- Price – NGN 0.50
- Volume – 100,000
In terms of share insider purchases, Chimaraoke Ijeoma acquired the following (price and volume) of the company:
May 29, 2020
- Price – NGN 0.55
- Volume – 1,475
May 29, 2020
- Price – NGN 0.45
- Volume – 20,175
Between Feb 4, 2020, and May 11, 2020,*
- NGN 0.50 – 2,000
- NGN 0.50 – 50,000
- NGN 0.50 – 278,250
- NGN 0.45 – 10,000
- NGN 0.46 – 507,653
*Aggregate volume at 847,903 at an average price of NGN0.482 per share.
The company announced a 10.6% Revenue decline in its Q2 2020 Unaudited results for the period ended June 30th, 2020.
The company’s revenue declined by -10.6% to N318m from N355m in the previous quarter. Profit for the company declined as follows
- Profit before tax declined by 9% to N14m.
- Profit after tax declined by 7% to N11.8m.
However, its Net Assets grew by 4.2% from N344m to N358m.
Nigeria also produces a range of chocolate powder and custard powder.