By Niyi Jacobs
Geregu Power Plc, a leading power generating company, has made a remarkable breakthrough on the Nigerian Exchange (NGX) platform, shattering its previous records and reaching an all-time high. The company’s share price has experienced a significant surge, rising by 15% in just two trading sessions, from N1,000 to N1,150. This impressive performance has been fueled by high trading volumes on the NGX platform.
After a period of stagnation, Geregu Power’s share price had settled at N1,000 for several months, following its listing in October 2022 at N100. However, the latest rally has lifted the company’s market value, increasing its market capitalization to N2.875 trillion.
Investors have taken notice of Geregu Power’s impressive earnings forecast, which projects a post-tax profit of N11 billion in the fourth quarter of 2024. The company expects revenue to reach N61.46 billion between October and December 2024, with an operating profit of N17.17 billion. While the company anticipates an impairment loss of N6 billion on its financial assets, its net finance costs are expected to reach N350 million in the same period.
As a result of its impressive performance and positive outlook, Geregu Power has become a darling of investors, attracting significant attention and investment in the local equities market. The company’s stock is now poised for further growth, making it an exciting opportunity for investors to tap into the potential of the utility sector
