19 Listed companies record losses

As many as 19 out of 36 firms listed on the Ghana Stock Exchange have so far recorded dips in the earnings per share, indicating the difficult times the economy has been facing this year.

As a result, their market capitalization has also shrunk considerably with investors losing huge funds as a result of capital loss, Business Finder can confirm.

According to SIC Financial Services Limited’s weekly report of the capital market, SIC and UT Banks are the biggest losers on the Accra bourse this year with -64.0 percent drop in their share prices as at Friday November 14, 2015.

While SIC has seen its share price going down from 37 pesewas in January 2015 to 13 pesewas per share, UT on the other hand has witnessed a decline in its share price from 25 pesewas at the beginning of the year to 10 pesewas per share, indicating the huge capital losses by investors.

With the exception of Trust Bank Gambia and Ecobank Transactional Incorporated, parent company of Ecobank Ghana, all the banking stocks listed on the GSE have witnessed reduction in their values.

Despite the takeover of the bank by Caribbean investor, Republic Bank, HFC Bank has witnessed a decline in its share price from GH¢1.50 at the beginning of 2015 to 78 pesewas per share now. GCB, CAL, Stanchart, Societe Generale and Ecobank Ghana have all seen their share prices dip by 29.43; 21.78; 19.90; 21.0 and 7.8 per cent respectively.

As at November 14, they were trading at GH¢3.74; 79 pesewas; GH¢16.30; 79 pesewas; and GH¢7.00 per share respectively.

Regarding consumer goods, Unilever Ghana was the only loser, declining by 26.45 per cent since January 1, 2015. It is hovering around GH¢7.87 per share on the Accra bourse.

PZ Cussons and ice cream gaint Fanmilk have however appreciated in value by 13.33 and 40.0 percent respectively while African Champions Industries, formerly Super Paper Products Company has witnessed no change in value.

Enterprise Group Limited however witnessed 25.21 per cent increase in capital gain since January 1, 2015, trading at GH¢2.20 per share.

Also, the aluminium sector saw a 300 per cent growth in capital gain by aluminium smelter Aluworks but a 16.67 percent drop in its share price by Pioneer Kitchenware Limited.

With regard to the petroleum industry, Tullow and Total have all recorded declines in their share prices by 6.0 and 13.2 percent respectively since the beginning of the year. GOIL has however witnessed an increase in its share price by 29.52 percent, trading at GH¢1.36 per share.

Canadian mining firm, Golden Star Resources however recorded a 14.96 per cent drop in its share price since January 1, 2015 on the GSE.

The GSE Composite Index which measures the average performance of the listed firms ended last Friday November 14, 2015 with -12.50 percent year-to-date while the GSE Financial Stock Index ended the same day with -2.18 percent annual return.

The market capitalization stood at US$16.35 billion or GH¢62 billion.

Despite recording a negative return in the first quarter of this year, the GSE bounced back in performance to record a positive year-to-date for investors at the end of the first half.

In 2014, the GSE Composite Index ended the year with 5.4 percent return for investors.

14 companies recorded gains. Out of this, 7 were financial stocks, 3 in the manufacturing sector and 3 in the oil industry. 17 companies however recorded losses including 4 financial stocks.