Transcorp, Chams, CWG surpass 700 % Returns in 2023

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Transcorp, Chams, CWG surpass 700 % Returns in 2023

 News Focus

It was a harvest of capital gains for the shareholders of Transport Hotels PLC, Chams Holding Company PLC and CWG PLC, as they towered above the ten companies that topped the winners’ chart on Nigeria Exchange Limited (NGX) in capital appreciation in 2023, with price gain that ranged from 721.8  % to 1022 .9 %.

Kernel of the Story

– Transcorp Hotels PLC posted the highest capital appreciation as the share price jumped from N6.25 in 2022 to close at N70.18 on the last trading day of 2023,

an increase of 1022.9 %.

– The second best, Chams Holdings  Company’s share price rose by 795.5 % from N0.24 at the beginning of 2023 to close at N1.97.

– The third best performer, CWG, formerly Computer Warehouse Group’s share price rose from N0.92 at the start of 2023 and hit N3.96 per unit at the end of the trading day, an increase of 721.8 %.

More facts on the Trio

-Transcorp Hotels, is subsidiary of Transnational Corporation of Nigeria (TRANSCORP). Its  market capitalization rose to N718.8 billion at the last trading day of 2023. With a share price appreciation of 1022.9%, Transcorp Hotels is the best performing stock in the Nigerian Exchange in 2023. The company’s share price started 2023 at N6.25 and closed 2023 at N70.18.  The company’s market cap also hit N718.8 billion at the close of trading in 2023.

– Chams HoldCo’s fundamentals are waxing stronger with a gross profit of N1.84 billion in nine months in 2023, a year-on-year growth of 181.3% from the corresponding period in 2022.

In a recent media interview, the Company’s Group Managing Director, Mrs Mayowa Olaniyan, attributed the performance to the gains from the on-going transformation in the entire group which comprises ChamsSwitch, ChamsAccess, CardCentre, and ChamsMobile, its subsidiaries .

–  CWG is one of the pioneers in the IT ecosystem . The company’s nine-month revenue was N18.26 billion in 2023, an increase of 79.7 % in the preceding year.

Apart from being a leading provider of Information and Communication Technology (ICT) across West, Central and Eastern Africa, the company is also a leading cloud service provider that enables Africa’s SMEs to exploit cloud services for commerce and management .

Still on the top Ten

– Other companies that made the league of the top ten were: Transnational Corporation of Nigeria (TRANSCORP)  676.4%;  MRS Oil, 644.7 %; Northern Nigeria Floor Mills, 639.8 %; Japaul Gold and Ventures, 507.1 %; Ikeja Hotels, 571.4 %; FTN Cocoa Processing, 410.3 % and Infinity Trust Mortgage Bank, 372.44 %.

State of NGX in 2023

Despite the headwinds that characterized the business environment in 2023, NGX All-Share Index, a measure of capital gains was up by 45.9 % to close at an all-time high of 74, 773. 77 points while the market capitalization closed at N40.92 trillion.



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