Shares of Livestock Feeds Plc have risen over 50% month-to-date, marking three consecutive weeks of gains amid a surge in market volume in early and mid-January.
This follows the company’s strong earnings report on October 28th, showing a 99% year-over-year revenue increase to N28.6 billion from N14.3 billion the previous year.
Key markets like Lagos and Aba drove revenue growth, contributing 46% and 36% respectively, while income from core operations spiked by 789% year-over-year.
Pre-tax profits for the same period also saw a significant rise, reaching N2.1 billion, up from N58.6 million the prior year.
After the earnings report on October 28, the stock faced a dip through November before picking up again in mid-December.
This renewed interest from investors, which has carried over into early to mid-January, has resulted in a market volume of 94 million so far, likely contributing to the recent increase in share price.
Livestock Feeds saw an impressive year-to-date performance of 122.70% in 2024, fueled by strong bullish momentum.
As January 2025 progresses, momentum continues to build, with a monthly market volume of 94 million and trading surpassing N6 as of January 21, 2025.
Livestock Feeds reported a 99% increase in revenue for the nine-month period ending September 30, 2024, reaching N28.6 billion, up from N14.3 billion in the same period last year.
The surge in share prices observed in early and mid-January can likely be attributed to significant trading volume from investors who view the stock as undervalued, with strong potential for profitability in 2025.
Livestock Feeds Plc specializes in the manufacture and sale of animal feeds and concentrates across Nigeria.