Benso Oil Palm Plantation (BOPP) shares continue to record daily gains on the local bourse especially in Q2-2017. Backed by years of continuous research in healthy seeds production, BOPP has maintained an impressive winning performance on the bourse churning out week-on-week capital gains to investors.
The economic value of the company shot up in 2016FY when it recorded a 27.89% growth in revenue during the period. Turnover of the company increased from GHS 58,077,000 in 2015FY to GHS 74,278,000 in 2016FY. Operating profit for the period also increased by 35.35%; from GHS 7,519,000 in 2015FY to GHS 10,177,000 in 2016FY. Net Profits also increased by 18.77%; from GHS 8,155,000 in 2015FY to GHS 9,686,000 in 2016FY. Y-on-Y performance review shows an above-average performance of the stock for the HY-2017.
The share price presently records YTD capital gains of 140.38% with an average daily price change of 10.62%. This makes BOPP the highest gainer on the Ghana Stock Exchange. The equity has appreciated in price from a year open price level of GHS 2.08 to GHS 5.00. The 2017 year end price is estimated to climb above GHS 6.00.
The outlook for the second half of 2017 remains bright, the impact of good rainfall from prior years, best management practices and sustained nutritional programme is expected to improve the Fresh Fruits Bunch yields in 2017. With the world market prices of Crude Palm Oil also anticipated to improve, the firm’s performance and shareholders’ value are expected to be better in 2017 compared to 2016. GN Analysts recommend BOPP as a BUY.
Trading activity on the bourse ended with 4 gainers (FML, BOPP, GOIL and SCB) and 2 losers (GGBL and UTB) yesterday. ETI shares topped the trading chart in terms of volume as 50,000 shares worth GHS7,000.00 changed hands. Returns on the Composite and Financial Stock Index pegged at 27.68% and 31.62% respectively.
Trading activity on the Alternative Market was hushed as no shared changed hands on the GAX.
HORDS currently lead record capital gains on the GAX, appreciating by 25% from 2016 year open.
The Cedi Lost marginally to the Dollar and British Pound but Gained to the Euro on the inter-bank market yesterday. The local currency exchanged at a mid-rate of GHS 4.3699 to the USD, GHS 5.6936 to the GBP and GHS 5.0330 to the EURO.
The GCFM Cedi index, a measure of the holistic performance of the Cedi on the inter-bank market now records a year-to-date depreciation of 7.77%.
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