First HoldCo Shares Surge 10% on Nigerian Exchange Following Strong Profit Growth

Key Facts

1First HoldCo shares surged 10% to hit the daily price limit of 144.10 Naira on the Nigerian Exchange.

2The group reported a 65.1% jump in profit after tax to 744.45 billion Naira for the nine months ended September.

3The company's market capitalization increased by approximately 550 billion Naira to 6.5 trillion Naira following the share gains.

First HoldCo shares surged 10% to hit the daily price limit of 144.10 Naira on the Nigerian Exchange. Per Second News reported that the rally followed the group's announcement of a 65.1% jump in profit after tax, reaching 744.45 billion Naira for the nine-month period ended September.

The company's market capitalization increased by approximately 550 billion Naira to reach 6.5 trillion Naira following the share gains. Gross earnings grew by 8.8% to 2.87 trillion Naira, supporting the stock's rise of 13.10 Naira from its previous closing level.