vitafoam has made a nine per cent market gain, despite facing significant headwinds in the current financial year, including losses from forex devaluation that impacted its bottom line, but overall, the company showed resilience.
The company’s gains came amidst calls for a special window for manufacturers to assess forex, with Vitafoam Plc being at the forefront of the advocacy. Meanwhile, the consumer goods index, which Vitafoam is part of, gained 7.48 points, driven by gains in industry giants, including Guinness Plc, International Brewery and Vitafoam with impressive shares.
Others were Nestle, Access Bank, just as the bulls gained momentum, as stimulus packages lifted global financial markets. It was described as a seven year high. Subsequently, Dangote, a number of the tier-1 banks lad the bulls to paint the Nigerian stock market “green”, just as stocks like MTN, Zenith Bank, FCMB recorded gains, lifting investments collectively to over N26 billion.
