ABC Transport surges by 24% in February, closes final trading week in the green

The company recently released its full-year results for the period ending 31 December 2024, reporting a pre-tax profit of N634.7 million, a significant recovery from a pre-tax loss of N260.1 million in 2023.

For 2024, the total revenue reached N12.6 billion, up from the N7.1 billion reported in the previous year.

Loads and waybills contributed N4 billion, while sales of vehicle spares and speed governors, along with haulage operations, each accounted for N2.8 billion.

The company has revealed two director share purchases so far in 2025: 870,000 shares of ABC Transport bought at N1.23 on January 20 and an additional 309,498 shares acquired on February 13, 2025.

As of the last trading day of February, ABC Transport has navigated a market volume of 26.8 million shares in the stock market, closing the month in positive territory at a price of N1.42.

ABC Transport is currently experiencing a strong buy trend that began in 2024 and has continued into 2025, with a year-to-date performance of 51.85% in 2024.

However, by the fourth week, the stock began to regain some ground, rising to N1.42 by the last week of February 2025.

ABC Transport reported a pre-tax profit of N634.7 million for FY 2024 compared to a pre-tax loss of N260.1 million in 2023, suggesting a recovery in the company’s financial performance.

Additionally, full-year revenue increased to N12.6 billion from N7.1 billion the previous year.

Other operating income also showed a notable rise, reaching N447.4 million compared to N115.1 million reported in the prior year, with franchise income making up a significant portion at N261.2 million.

The company has disclosed two director share purchases: 870,000 shares of ABC Transport bought at N1.23 on January 20 and an additional 309,498 shares acquired on February 13, 2025.

While it might not be certain why share prices surged in February, a strong performance in 2024 and positive events, such as the recent share purchases, likely influenced investment sentiment.