Stocks to watch: Major blow to Access Holdings revenue, Oando disappoints investors

Access Holdings, Oando and Thomas Wyatt made it into this week’s stocks to watch list due to various reasons, such as board and stock market activities.

Ripples Nigeria stocks watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.

Kindly note that Ripples Nigeria Stocks Watchlist is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.

Access Holdings

Last week, Access Holdings, parent company of Access Bank, announced it recorded a blow to its revenue drive, after talks to acquire Kenyan lender, Sidian Bank, from Centum Investment Plc broke down.

Access Bank had planned to increase its revenue through inorganic growth, but both the Nigerian lender and Centum Investment couldn’t agree on undisclosed conditions.

Access Bank’s inability to seal the acquisition will raise concern amongst investors who have seen the acquisition as a means to improve shareholders’ investment value, as its projected growth prospects will take a hit.

READ ALSO:Airtel Africa, Champion Brew, John Holt join stocks to watch list

Oando

The company continues to delay release of its earnings reports for the period between 2020 and 2022, making it difficult for shareholders to know the financial health of the company.

Oando said the 2020 Audited Financial Statements will now be released on February 28, 2023, the Audited Financial Statements for 2021 will be out on or before May 31, 2023, also Q1-Q4 2022 Unaudited Financial Statements has been scheduled for June 30, 2023, while that of 2022 Audited Financial Statements will be out on August 31, 2023.

This will affect the capital market’s confidence in investing in Oando’s shares, as there’s no way to examine the past and future growth of the company. A drop in the stock market’s confidence will reduce shareholders’ investment value.

Thomas Wyatt

Thomas Wyatt continued with its impressive run this year, increasing shareholders’ investment value by 52.58 per cent within five days of trading.

The paper conversion and printing company has become one of the most sought-after shares in the stock market, which saw it led the list of the best performing equity last week.

Although it will open this week on the gainers side, investors still need to trade carefully around Thomas Wyatt, as the recent appreciation could trigger a sell off among shareholders seeking to take profit.

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