Three weeks into the month of August trading on the Lusaka Stock Exchange, yet another week of the bond market holding its glory by eclipsing the equities market, It recorded a score of 98% to 2% on the equities side. In comparison to this time last year, we see that the complete opposite as it was the equities market that recorded a 100% score. In regard to the equities market Zambia National Commercial Bank Plc, recorded the highest turnover throughout the week.
There have not been a new listing of company securities on The Lusaka Stock Exchange, thus far into the year. They are currently 22 companies listed on the LuSE.
Equity Market
In the week ended 19th August 2022, a total of 3,547,424 shares were transacted in 366 trades, yielding a market turnover of K12,645,838. Trading activity was recorded in AECI MINING EXPLOSIVES, BRITISH AMERICAN TOBACCO ZAMBIA, COPPERBELT ENERGY CORPORATION, CHILANGA CEMENT, INVESTRUST BANK, TAJ PAMDOZI, PUMA, STANDARD CHARTERED ZAMBIA, ZAMBIAN BREWERIES, ZAMBIA FORESTRY and FOREST INDUSTRIES CORPORATION, ZAMBEEF, ZAMBIA METAL FABRICATORS, ZANACO, ZAMBIA SUGAR and CEC AFRICA on the quoted tier. The LuSE All Share Index (LASI) closed at 6,998.79 points. The market closed on a capitalization of K71,396,163,713 including Shoprite Holdings and K36,613,478,273 excluding Shoprite Holdings.
Bond Market
Bonds of total face value of K866,504,000 were transacted in 85 trades, resulting in a market value sales of K636,087,720.
Week two of August remains the best performing week of the month thus far.
IMPORTANT ANNOUNCEMENTS.
The 2022 financial year has remained positive for the business so far with the first half year recording double digit growth in revenue over prior year
driven by consumer demand for our brands, as well as progressive easing off of COVID-19 restrictions that partially impacted prior year results.
The general economic environment has also presented relatively stable factors notably so the exchange rate against major trading currencies
which has not only softened, but also remained impressively predictable allowing for better cost forecasting and control. A high level summary of results for the first half year relative to prior year is as follows: Total Revenues grew 22% owing to volume growth driven by high margin core and premium global brands, Profit before tax grew 51% owing to the strong top-line performance as well as excellent cost control of both operational and financial costs.
The business remains liquid with a positive cash position of ZMW 256.4m with a strengthening balance sheet.