On the Ghana Stock Exchange

UNIL in Q2-2018 saw its profit after tax rise by 14.52% from GHS 19.35 million in Q2-2017 to GHS 22.16 million. Growth in UNIL’s earnings at the end of Q2-2018 was largely driven by an increase in its revenue which swelled by 16.65%. UNIL’s earnings per share increased to GHS 0.7093 in Q2-2018 from GHS 0.6193 in Q2-2017. Its return on equity stood at 17.43% at the end of Q2-2018.

UNIL’s operating expenses increased by 25.45% in Q2-2018 from GHS 56.68 million in Q2-2017 to 71.11 million. Amongst its expenditure items, expenses on branding and marketing grew by 63% reflecting the company’s efforts to drive sales. The company’s inventory turnover which indicates the number of times it sold and replaced its stock remained stable at 4x in Q2-2018. UNIL’s total asset turnover over which measures how well the company used its assets to generate revenues slipped to 0.58x in Q2-2018 from 0.63x in Q2-2017. It is expected that UNIL’s current investments in product branding and marketing will help drive its sales in the second half of the year.

In terms of share price performance, UNIL has rewarded investors with a YTD return of 38.71%, outperforming the market by 24.64%. It is expected that UNIL will maintain a positive YTD return in the coming months buoyed by its financial performance in Q2-2018.

At the end of yesterday’s trading activity, the Composite index and the Financial stocks index inched up by 1.83 points and 3.47 points to peg at a YTD return of 14.07% and 15.77% respectively. There were 4 gainers [GCB, TOTAL, EGL & SCB] and 2 losers [GOIL & SIC] at the end of yesterday’s trade. CAL topped the charts in terms of volumes as 370,700 shares worth GHS 467,082 changed hands.

On the Ghana Alternative Market

Trading activity on the Ghana alternative market was hushed as no shares changed hands.

On the Currency market

The Cedi appreciated marginally against the British Pound but lost to the Euro at the end of yesterday’s trade. The Cedi to Dollar exchange rate remained stable. The local currency exchanged at a mid-rate of 4.6980 to the USD, GHS 6.0482 to the GBP and GHS 5.4488 to the EURO. The GCFM Cedi index, a measure of the holistic performance of the Cedi on the interbank market now records a year-to-date depreciation of 4.43%.

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