Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Livestock Feeds Nigeria Rises Most in 7 Weeks on Profit Bets

March 4 (Bloomberg) -- Livestock Feeds Plc, a Nigerian company that produces and markets animal feeds, gained the most in seven weeks as investors bought the company’s shares on speculation full-year profit will rise.

The stock rose 5 percent to 2.31 naira at the close in Lagos, the commercial capital. That is the biggest advance since Jan. 22, according to data compiled by Bloomberg.

“Investors are expecting full-year profit to rise given company’s performance last year and expansion in production capacity,” Chris Okoro, an analyst at Lagos-based Cosord Securities Ltd., said today by phone. “The result is expected within two weeks.”

Livestock’s half-year profit through June more than doubled to 60 million naira from 25 million naira, it said in a statement to the Nigerian Stock Exchange July 31. Revenue advanced to 2.5 billion naira from 1.3 billion naira.

UAC of Nigeria Plc, a Nigerian company with interests in food products, logistics and real estate services, said last year it was buying a majority stake in the feed producer, to take advantage of the synergies between the two companies in the animal feeds industry.

Livestock shares have risen 60 percent this year, compared with a 17 percent gain in the Nigerian Stock Exchange All-Share Index.

To contact the reporter on this story: Emele Onu in Lagos at eonu1@bloomberg.net

To contact the editor responsible for this story: Vernon Wessels at vwessels@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.