ABC Transport Plc has experienced a significant uptick in its stock performance, with shares rising 22% year-to-date, driven by its strategic diversification initiatives and robust financial performance.
Key Highlights:
- 22% year-to-date increase in stock price, from N1.23 to N1.50
- Market capitalization rises from N2.942 billion to N3.588 billion
- Strategic investment in Compressed Natural Gas (CNG) trucks and establishment of ABC Cargo Limited
- Over N8 billion invested in acquiring CNG-powered and specialized trucks
- Pre-tax profit of N634.7 million reported for FY 2024, a turnaround from pre-tax loss of N260.1 million in 2023
- Total revenue surged to N12.6 billion from N7.1 billion in the previous year.
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