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Buy McNichols stocks

McNichols (NGX: MCNICH) Stocks

What is McNichols Plc

McNichols Plc is a Nigeria based indigenous home grown fast moving consumer brand food and beverage company that manufactures, packages and markets a range of fortified sugar products for use in the country. These products includes granulated sugar, cube sugar, icing sugar and baking sugar and the company also produces a range of chocolate powder and custard powder.

McNichols Plc is committed to enhancing quality of life and contributing to a healthier future of Nigerians and claims that its main focus will always be to develop innovative food products to meet the needs of consumers, improve on nutrition, quality and hygiene of food products in the Nigerian market and environments and to offer value to consumers by offering economical pack sizes to enhance affordability and improve the economic wellbeing of consumers in Nigeria and beyond.

The history of McNichols Plc can be traced back to April 2005 when operations as a food processing and packaging company were commenced. The company was listed on the Nigerian Stock Exchange (NGX) on 18 December 2009.

Today, McNichols Plc has a diversified portfolio in more sectors of the consumer goods value chain and is well known for its granulated sugar, cube sugar, icing sugar, baking sugar, chocolate powder, custard powders and corn flakes.

McNichols Plc’s equity stocks are for sale online on the Nigerian Stock Exchange (NGX) under the stock symbol MCNICH.

McNichols Plc currently serves clients in Nigeria and other areas in Western Africa.

McNichols Plc has its headquarters at No. 7 Jeminat Laalu Street, Arepo, Ibadan Expressway, Lagos, Ogun State, Nigeria.

The current Managing Director/Chief Executive Officer of McNichols Plc is Chimaraoke Ekpe.

McNichols Plc forms part of the Food Industry and the Consumer Goods Sector.


McNichols Plc Stock Performance

The current price for McNichols Plc stocks is 0.77 Nigerian Naira (NGN). The company has a total market capitalisation of 252 Million NGN with a P/E ratio of 15.40 and earnings per share of 0.05 NGN. A total of 327 Million shares are outstanding.

With an increase of earnings per share and consistent profits over a period, investors who want to buy or sell McNichols Plc stocks can be assured of lucrative dividends and earnings in times to come.

According to an analysis on the live chart of McNichols Plc, analysts forecast further improved performance for the consumer goods sector with market share growing as trading volumes increase.

Highlights of McNichols Plc in 2022

McNichols Plc started the year with a share price of 0.51 NGN, and it has gained 51 % in value on its price valuation, ranking 21st on the NGX where year-to-date performance is concerned.

McNichols Plc is currently the 124th most-traded stock on the NGX and it has experienced a total trading volume of more than 63 156 shares, which were finalized in 10 deals and were valued at a total of 44 554 NGN over three months, with an average of 1 002 shares in each trading session.

The highest volume shares traded on one single day was 23 595, and it was achieved on 15 September.


How to buy McNichols Plc stocks – Step by Step

The stock market is one of the most attractive financial markets that sees millions of retail investors and traders’ participation daily. To buy, sell or trade McNichols Plc stocks, traders and investors can follow a few simple steps:

  1. Find the share that you want to buy, in this case, “MCNICH”.
  2. Select a forex broker that offers access to the Nigerian Stock Exchange (NGX).
  3. Review the broker’s trading conditions, fees, deposit and withdrawal methods, trading platform, customer support, regulation, and other components to ensure that they are aligned with your trading plan.
  4. Open a live trading account with the broker by completing the online application form and providing the necessary documentation to verify the trading account.
  5. You are now ready to make your first share purchase through the broker.
  6. You can further start to build and diversify your portfolio by buying more shares.


What is the NGX?

The Nigerian Stock Exchange (NGX), officially known as the Nigerian Exchange Group, comprises leading integrated market infrastructure in Africa that is servicing the Nigerian economy – the continent’s largest. The NGX provides capital access to companies that are seeking to gain the support of the financial markets to fund their business expansion.

Similarly, NGX offers its pool of domestic, regional, and international investors an assortment of regulated securities to in turn achieve their investment objectives.

Since March 2022, the former Nigerian Stock Exchange was demutualised from a member-owned not-for-profit entity into a shareholder-owned, profit making entity called the Nigerian Exchange Group Plc.

NGX publishes the standard, value-weighted All-Share Index (ASI), formulated in January 1984 with a base value of 100. The ASI tracks the general market movement of all listed equities on the Exchange, including those listed on the Growth Board, regardless of capitalisation.

Additional indices include the NGX30 and NGX50 which correspondingly track the top 30 and 50 companies in terms of market capitalisation and liquidity. Both of these indices, in which only fully paid-up common shares are admitted, are weighted by adjusted market capitalisation.


On which stock exchange does McNichols Plc have shares for sale?

McNichols Plc trades its equity on the Nigerian Stock Exchange (NGX) under the stock symbol MCNICH.


What type of company is McNichols Plc?

McNichols Plc is a Nigeria based indigenous home grown fast moving consumer brand food and beverage company that manufactures, packages and markets a range of fortified sugar products.


In which industry and sector does McNichols Plc operate?

McNichols Plc forms part of the Food Industry and the Consumer Goods Sector.


What is the price of McNichols Plc shares today?

At the time of writing, the current price of McNichols Plc shares was 0.77 NGN.


Is McNichols Plc a good investment?

Yes, McNichols Plc’s forecast indicates further growth and improvement in the second half of 2022, with investors expecting lucrative dividends and returns with increased financial performance.


What is the risk analysis for McNichols Plc?

McNichols Plc has experienced a 63.83 % growth in its stock price over the last year. McNichols Plc, issuers of the MCNICHOLS stock on the Nigerian Stock Exchange, has a number of market competitors who are also engaged in the Consumer Goods sector.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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