Nigerian Wire and Cable plc

[dotunk]

Hi,

Nigerian Wire and cable, a stock that has been in the gallows in the past 3 years at least has suddenly started rising to unexpected heights. the opening price this year was around .50k the stock has risen to N5 with a 2 - 3 week period.

what is responsible for this rise? can anybody enlighten us?

[alanbow]

Hi Dotunk,

This has been discussed under another thread, check it out-- engineering technology.

However the company is in liquidation as it owes GTB and FBN I think 200m but because of the bullish market it has been rising for some strange reasons.

[dotunk]

thanks alanbow,

i have gone thruogh the engineering thread and have been educated on the company. infact i thought i could make some quick money from the price increase and quickly divest from the company but i see thats not possible.

thanks sha!

[AkeemAde]

Please anyone in the house know if it was Nigerian Wire and Cable that was mentioned in Meristem's report of the stock being placed on technical suspension for a rights issue of 1.50k. I will appreciate a response from anyone in the house.

Kind Regards.

[alomabello]

Yeat, its Niwicable

[hispy99]

Originally Posted by alomabello

Yeat, its Niwicable

Might be Nigerian Wire, not Nigerian Wire and Cable

[Abinishio]

Is there a diff?

[alomabello]

Its actually NigWire, not Niwicable, my mistake!

[Forraps]

Hello,

Does any 1 have any new on Nigerian Cable and Wire

[123.rado]

NIGERIAN WIRE & CABLE PLC
01 September 2010
Audited Year Ended (December) 2008 15 months

Profit and Loss Information
Turnover 08 N980.226m 07 Nil
PBT 08 (N272.805m) 07 (N234.353m)
Tax 08 Nil 07 Nil
PAT 08 (N272.805m) 07 (N234.353m)

Balance Sheet Information
Fixed Assets 08 N933.495m 07 N873.490m
Stock 08 N244.744m 07 N24.168m
Trade Debtors 08 N125.360m 07 N31.348m
Cash And Bank Balances 08 N42.127m 07 N654,000
Other Debit Balances 08 N137.482m 07 N43.075m
Trade Creditors 08 N217.358m 07 N236.955m
Short Term Borrowings 08 N112.170m 07 N722.055m
Other Credit Balances 08 N703.163m 07 N507.834m
Working Capital 08 (N300.283m) 07 (N1.162b)
Net Assets 08 N450.517m 07 (N494.109m)

[123.rado]

NIGERIAN WIRE PLC
17 September 2010
Audited Year Ended (December) 2009

Profit and Loss Information
Turnover 09 N571.896m 08 N538.203m
PBT 09 N6.699m 08 N6.855m
Tax 09 (N8.307m) 08 (N4.083m)
PAT 09 (N1.608m) 08 N2.772m

Balance Sheet Information
Fixed Assets 09 N402.057m 08 N393.987m
Stock 09 N405.243m 08 N136.386m
Trade Debtors 09 N24.033m 08 N45.340m
Cash And Bank Balances 09 N6.591m 08 N175,924
Other Debit Balances 09 N8.866m 08 N8.410m
Trade Creditors 09 N49.811m 08 N43.115m
Short Term Borrowings 09 N3.766m 08 Nil
Other Credit Balances 09 N197.534m 08 N192.458m
Working Capital 09 (N162.582m) 08 (N144.974m)
Net Assets 09 N209.867m 08 N211.476m

[baotoghile]

Originally Posted by 123.rado

nigerian wire plc
17 september 2010
audited year ended (december) 2009

profit and loss information
turnover 09 n571.896m 08 n538.203m
pbt 09 n6.699m 08 n6.855m
tax 09 (n8.307m) 08 (n4.083m)
pat 09 (n1.608m) 08 n2.772m

balance sheet information
fixed assets 09 n402.057m 08 n393.987m
stock 09 n405.243m 08 n136.386m
trade debtors 09 n24.033m 08 n45.340m
cash and bank balances 09 n6.591m 08 n175,924
other debit balances 09 n8.866m 08 n8.410m
trade creditors 09 n49.811m 08 n43.115m
short term borrowings 09 n3.766m 08 nil
other credit balances 09 n197.534m 08 n192.458m
working capital 09 (n162.582m) 08 (n144.974m)
net assets 09 n209.867m 08 n211.476m

hmm..., the result is really electrifying....