“Eterna Plc began the year with a share price of N5.10 and has since gained 37.25 per cent to close the trading day on September 30, 2021 at N7.00. The company deals in the manufacture, marketing and distribution of chemicals and lubricants and in Q1 2021, recorded a 171.02 per cent growth in net profit from negative N358.28 million to N254.
The chief operating officer of InvestData Consulting Limited, Mr Ambrose Omordion said despite that local equities benchmark index closed in negative zone of 0.12 per cent in the first nine months of the year, the Oil & Gas closed on a strong positive performance of 62.37 per cent at the end of period under review as investors were bullish on stocks in the sub-sector.He noted that Seplat Energy shares gained 71.
According to him, these companies reported an increase in revenue due to higher margin in products they sold this year. The restriction of movement eroded their revenue last year but with the ease on COVID-19 lockdown, they were able to grow revenue that translates into profit. “The company’s payout is always 70 to 80 per cent every year and they may still pay a dividend of N20.00 at the end of 2021 financial year. It makes a lot of sense for investors to buy Total Nigeria and Seplat Petroleum shares on NGX,” he said.