Three listed companies, Betaglass Plc, Honeywell Flour Mills and The Initiates Plc (TIP), with a combined market capitalisation of N377 billion, witnessed an unprecedented surge in investor confidence, delivering returns of over 200 per cent by the close of the first half of 2025.
Data from the Nigerian Exchange Limited (NGX) showed that the stocks not only outpaced the broader market but also defied economic headwinds to emerge as the best-performing as of June 30, 2025.
Beta Glass Plc with a market capitalisation of N200 billion emerged as the best performing, delivering an impressive year-to-date return of 415 per cent gain within six months. Betaglass, which reopened for transactions in January at a share price of N 64.90 kobo, rose to N333.95 kobo on Monday, June 30, 2025, ranking it first on the NGX in terms of year-to-date performance. Shareholders are optimistic about the company knowing the stock has accrued 29 per cent over the past four-week period.
Trailing closely was Honeywell Flour Mills Plc, which posted a year-to-date return of 241 per cent. The company began the year with a share price of N6.30 kobo and has gained 241 per cent on that price valuation to close at N21.50 kobo, ranking it second on the NGX in terms of year-to-date performance. Its market capitalisation is currently at N170 billion.
TIP Plc with a market capitalisation of N7.34 billion began the year with a share price of N2.50 and has gained 230 per cent on that price valuation to close at N8.25 kobo ranking it third on the NGX in terms of year-to-date performance. Shareholders can be optimistic about TIP knowing the stock has accrued 33 per cent over the past four-week period.
Operators said their stellar rise was anchored in a blend of company-specific fundamentals, robust earnings growth, operational upgrades, and positive market sentiment.
For instance, Betaglass’ exceptional performance is largely attributed to the company’s outstanding financial results in the full year and first quarter of 2025.
Beta Glass posted a full-year pre-tax profit of N21 billion, representing a 122.9 per cent increase compared to a profit of N9.4 billion achieved in the corresponding period in 2023.
Also, for the first quarter ended 31st March 2025, the firm recorded a pre-tax profit of N15.2 billion, an increase of 638.64 per cent from N2.06 billion posted in the previous year with N41.1 billion revenue, representing 69.3 per cent increase from N24.3 billion in Q1 2024.
According to the operators, the company drew investor confidence through strategic reinvestment into its operations beyond its earnings report.
A significant furnace upgrade at its Agbara plant enhanced production capacity by 30 tons daily and extended the facility’s life span by a decade, an efficiency move that signalled long-term productivity and stability.
For Honeywell Plc, after ending 2024 with a pre-tax loss of ₦10.12 billion, the company returned to profitability with N21.4 billion in pre-tax earnings in Q1 2025. This recovery was underpinned by a near-doubling of revenue to N373.5 billion.
Investors interpreted this as a sign of strong internal reforms, improved cost controls, and revitalised demand in the essential staples sector.
In addition, Honeywell is firmly positioned in a segment where demand remains relatively inelastic as a producer of consumer staples like flour, giving it a shield against inflationary pressures.
The company also benefited from strong liquidity on the NGX, trading over N4 billion worth of shares in the first quarter alone.
TIP’s performance was strongly driven by technical and sentiment-based indicators. The stock traded close to its 52-week high for most of the second quarter, signalling persistent investor confidence and strong demand.
