Sustained profit taking on the Nigerian Stock Market dragged Market Capitalization down by N29billion as more investors sold their holdings.
Dangote Sugar Plc led the gainers’ table with 30 kobo or 4.99 per cent to close at N6.31 per share, followed by Unity Bank Plc with three kobo or 4.69 per cent to close at 67 kobo per share. On the flip side, Oando Plc shed 46 kobo or 9.54 per cent to close at N4.36 per share, while Tiger Brands Plc dropped 19 kobo or 6.25 per cent to close at N2.85 per share.
Meanwhile, Nestle Nigeria Plc has reported a profit after tax of N23.7 billion for the financial year ended December 31, 2015, a marginal increase of 6.8 per cent from N22.2 billion recorded in the same period of 2014.
The company proposed a final dividend of N19.00 per share, representing an increase of 19 per cent over the payout to shareholders last year.
The company, which recorded a decline of 19.6 per cent in finance income, declared a revenue of N151.3 billion, from N143.3 billion recorded in the corresponding period of 2014.