Transcorp Hotels Plc, Chams Holding Company Plc, and CWG Plc led the 10
companies that topped the winners’ chart on Nigeria Exchange Limited (NGX) in
capital appreciation in 2023, with price gains ranging from 721.8% to 1,022.9%. For
their shareholders, it was a veritable harvest of capital gains.
The share price of Transcorp Hotels Plc saw the biggest capital appreciation, rising from
N6.25 in 2022 to N70.18 on the final trading day of 2023—a gain of 1022.9%.
In 2023, Chams Holdings Plc continued to be the leading financial technology business, with
its share price soaring by 795.5% from N0.24 at the start of the year to N1.97 at the closing.
With a gross profit of N1.84 billion in nine months in 2023—a year-over-year increase of
181.3% over the same time in 2022—Champs’ foundations are getting stronger.
The company’s group managing director, Mayowa Olaniyan, recently gave a media interview
where she credited the performance to the business’s continuous transformation, which
includes its subsidiaries ChamsSwitch, Chams Access, Card Centre, and ChamsMobile.
During the evaluation period, CWG PLC, formerly known as Computer Warehouse Group,
was the third-best price gainer. The share price increased by 721.8% from N0.92 at the
beginning of 2023 to N3.96 at the close of trading.
Within the IT ecosystem, the company is among the pioneers. Transnational Corporation of
Nigeria (TRANSCORP), with 676.4 percent, MRS Oil (644.7 percent), Northern Nigeria Flour
Mills (639.8), and Japaul Gold and Ventures (507.1 percent) were the other corporations that
made the league of the top ten.
The remaining three are Infinity Trust Mortgage Bank (372.4%), FTN Cocoa Processing
(410.3%), and Ikeja Hotels (571.4%).
The market capitalization concluded at N40.92 trillion, with the NGX all-share Index, a gauge
of capital gains, up 45.9% to an all-time high of 74,773.77 points despite the challenges that
marked the economic climate in 2023.
