BUA Cement jumps on 117% Q1 profit surge as NGX ASI slips 0.50%
The NGX ASI closed at 1,625.12, down 0.4966% on April 27, while BUACEMENT rose to NGN335.0, according to an April 27 market report. BUA Cement posted Q1 2026 net profit of NGN176.4 billion, up 117%, after revenue rose 22.1% to NGN355 billion, according to Independent Newspaper Nigeria and westernpost.ng, while Nairametrics reported profit at NGN193 billion. Stanbic IBTC gained 5.5% in 5 days as westernpost.ng reported Q1 2026 profit up 42% to NGN165.4 billion, after Brand Communicator said full-year profit reached NGN551.7 billion and the group declared a NGN4 dividend. Nigerian Breweries posted a 26% quarterly profit increase, according to Premium Times Nigeria, while MTN Nigeria is set to begin compensating subscribers under an NCC directive and suspended airtime and data lending with Airtel Africa, Nairametrics and Proshare reported.
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The NGX ASI closed up 1.358% at 1,815.89 on June 24, after a 0.84% decline on June 23, according to market data and analyst notes. MTN Nigeria drove 3 headlines in 3 days, committing to IFRS S1 and S2 compliance, vesting 129,129 shares worth NGN103.3 million to 6 employees, and appointing Bukola Ajayi as CIO, according to Tribune Online, TechNext.ng and CIO Africa. Seplat Energy also drew focus with Tony Elumelu's appointment as chairman, LEADERSHIP Newspapers reported. Analyst notes showed FTN Cocoa jumping 8.4% with cocoa at $4,986, while cement names fell 10%, underscoring a session shaped by sharp sector divergence.
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