The Fast Moving Consumer Goods (FMCG) sector emerged as the top performer in 2023 as investors continued to pay more attention to FMCG stocks.
FMCG companies experienced a turnaround in operating margins mainly due to rebounding revenue growth and easing cost pressures, which benefited from stable cedi and softer inflation.
Unilever Ghana's stock rallied (GH¢8.11, +109.02%), leading in the FMCG space after showcasing robust figures in its nine months of 2023 results with an 857% year-on-year increase in net profit.
Guinness Ghana Breweries (GH¢3.04, +65.85%) experienced a recovery from nine months of 2022 losses to achieve a substantial 648% year-on-year surge in profit for its full-year ending June 2023.
Fan Milk (GH¢3.25, +8.33%) posted moderate gains and made progress, though the ice cream manufacturer reported a 200% year-on-year increase in net profit for nine months 2023 financial results.
BOPP concluded 2023 as best performer
Benso Oil Palm Plantation (GH¢22.00, 187.58%) concluded 2023 as the best performer on the market, driven by the company's robust earnings growth and attractive dividend yield, which consistently drew investors towards the stock throughout the year.
The stock benefitted from the increased crude palm oil prices that resulted from heightened global demand.
TotalEnergies impresses investors
TotalEnergies, a leading oil marketing company (GH¢9.00, +125.00%), continued to be in the spotlight as the company's impressive financial performance and stable dividend yield continued to impress investors.
TotalEnergies demonstrated unwavering resilience in the face of volatile macroeconomic conditions, posting 22% year-on-year growth in net profit during nine months 2023.
However, its oil marketing counterpart, GOIL PLC (GH¢1.50, -12.79%), struggled all year after consistently reporting disappointing results.
Latest Stories
-
Former UTAG President jabs Dormaahene over Bawumia running mate comment
7 mins -
Enimil Ashon: Cecilia and Akonta: President told us so!
8 mins -
Andy Murray to make injury return next week
13 mins -
Dominic Thiem forced into early retirement after injuries
18 mins -
Is Sarkodie a ‘betweener’ to add his voice to Bob Marley’s ‘Stir It Up’ love letter to his wife? – Blakk Rasta quizzes
29 mins -
I take a seat to celebrate so I can be different – Mohammed Kudus
33 mins -
Bawumia urges African countries to learn from Ghana’s use of digitalisation in corruption fight
38 mins -
Kudus’ advertising board celebration to debut on EA Sports
1 hour -
Glovo’s operations will end tonight
1 hour -
Mahama dismayed at loss of $190m due to PDS scandal; vows to prosecute culprits
2 hours -
Limited Voter Registration: SHS students threaten to boycott exercise, return to school over registration woes
2 hours -
Government to empower universities to undertake mineral exploration – Bawumia
2 hours -
Improve your system of registration – Majority Leader to EC
2 hours -
E-cedi will be the ultimate weapon in corruption fight – Bawumia
2 hours -
Anti-LGBTQ+ bill lawsuit: Supreme Court should have given a specific date for next hearing – Dafeamekpor
2 hours