The Nigerian Exchange (NGX) clocked a year-to-date return of 16.57% by the end of June, a sharp slowdown from the 33.81% rally recorded over the same period last year. Yet, a handful of standout companies far surpassed the benchmark, achieving remarkable share price gains.
Analysts attribute this disparity to:
- Earnings surprises: Several companies posted Q1 results that dramatically exceeded expectations.
- Valuation rerating: Stocks previously trading at low P/E multiples attracted fresh attention due to improving fundamentals.
- Momentum trades: Certain penny and less liquid names surged amid speculative fervor.
- Sector reshuffling: Capital rotated into agri-business, healthcare, and industrials as investors branched out from banking and oil.
From Beta Glass’s fundamental-powered surge to speculative rallies in penny stocks, the H1 2025 winners come from diverse corners of the market—some grounded in strong financials, others riding expectation.
Top 10 NGX Stocks by Price Gain, H1 2025
| Rank | Stock | H1 Gains |
|---|---|---|
| 10 | SCOA Nigeria | +161.65% |
| 9 | Champion Breweries | +162% |
| 8 | Presco | +168% |
| 7 | Fidson Healthcare | +183.87% |
| 6 | Neimeth Pharmaceuticals | +185% |
| 5 | Smart Products Nigeria | +200% |
| 4 | Vitafoam | +222% |
| 3 | The Initiates Plc (TIP) | +230% |
| 2 | Honeywell Flour Mills | +241% |
| 1 | Beta Glass | +415% |
10. SCOA Nigeria – 161.65%
Beginning the period at ₦2.06, SCOA shares rocketed to ₦5.40 by June-end, with January alone contributing a 97.6% jump. Trading at a modest 0.5x price-to-sales but sporting a lofty 22.5x P/E and atypical beta of −0.11, the stock is priced for a turnaround. Watch Q2 earnings closely.
9. Champion Breweries – +162%
The brewer followed suit with a 162% rise, propelled by robust Q1 numbers signaling improved profitability and renewed investor confidence.
8. Presco – +168%
Palm oil giant Presco garnered strong sectoral flow, boosting its stock considerably over the half-year.
7. Fidson Healthcare – +183.87%
Fidson’s recovery in Nigeria’s pharmaceutical market and bullish Q1 results helped catapult the stock toward the top ten.
6. Neimeth Pharmaceuticals – +185%
Strong earnings and investor optimism in the healthcare segment powered Neimeth’s impressive share price climb.
5. Smart Products Nigeria – +200%
A speculative standout, Smart Products doubled in value on thin volume, underscoring sentiment-driven moves in small-cap equities.
4. Vitafoam – +222%
The foam manufacturer attracted investor attention for its consistent performance and recovering margins, driving a substantial rally.
3. The Initiates Plc (TIP) – +230%
TIP emerged as a top mid-cap performer, delivering sturdy financials and strong market sentiment throughout H1.
2. Honeywell Flour Mills – +241%
A dramatic turnaround from losses to profitability fueled a 241% surge. Fresh Q1 numbers and sector rotation into consumer staples played a key role.
1. Beta Glass – +415%
Claiming H1’s top spot, Beta Glass rallied over 400%. It posted a 639% jump in Q1 pre-tax profit to ₦15.2 billion—mirroring its FY 2024 performance. Investors responded enthusiastically to its powerful rebound.
What Lies Ahead?
Although the broader NGX index has cooled from 2024’s torrid pace, these top-performers offer intriguing insights:
- Beta Glass combines strong fundamentals with a favorable valuation.
- Sector plays in healthcare, agriculture, and manufacturing continue to pay off.
- Speculative bets present rich upside—but often carry higher risk
While Nigeria’s stock market posted healthier returns earlier in the year, it’s the select few—driven by earnings surprises, rerated valuations, and speculative interest—that attracted the most eyes and capital. As investors strategize for the second half of 2025, these high-fliers offer both inspiration and caution: a reminder that stock-specific dynamics can vastly outperform aggregate trends.
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