Six months of trading in equities so far this year have been driven by improved earnings fundamentals from both the preceding full year and first-quarter interim results. Companies coming back to profit from unexpected foreign exchange-induced losses have commanded a greater part of the bullish run.
The top 20 wealth-building equities are those at the forefront of price advances, ranging from near price doubling to five times price multiplication in just six months of trading. On the list are companies big and small, which investors and equity traders have used to move away from poverty and hardship.
They constitute the best wealth-building candidates of the year so far, still holding good hopes for new highs, as the second-quarter interims are expected to begin trickling in. Accelerated recoveries and growths are expected to mark the second-quarter earnings reports generally, which is a signal for another bullish run in the second half.
Beta Glass, the glassware manufacturer, tops the chart of share price advances for the first half of 2025. The company’s share price opened the year at N64.90 and has multiplied more than five times in six months to close at N333.95 on 30th June.
The company is expected to maintain its high-speed profit growth in the second quarter after multiplying its profit to N10 billion in the first quarter. It is headed for an exceptional profit delivery this year, sustaining an outstanding profit performance for the second year. It ended the 2024 operations with a leap of 112 percent in after tax profit to N13.6 billion.
Honeywell Flour Mills is on a high-speed recovery lane, turning around from three years of huge losses to deliver quite an impressive profit. The company’s full year earnings report made up to March 2025 shows a big rebound from a loss of over N10 billion in the preceding year to an after tax profit of N14.6 billion. The strength of the rebound is expected to be maintained in its first quarter interim report expected in weeks.
The developments have rekindled investors’ confidence and the company’s share price has advanced by 241.3 percent year to date to close at N21.50 by at the end of June 2025. The high points of the upturn are a large drop in foreign exchange losses and a cut down in net finance expenses.
The Initiates is a great discovery for equity traders and investors in 2025 and to them this is a stock to go with well into the future. The waste management and industrial cleaning service providers has had its share price multiply from January opening mark of N2.50 to N8.25 at the close of business on June 20, 2025.
The company is maintaining a galloping speed on the earnings highway for the second year. It surprised the market with close to six times jump in profit to almost N1.2 billion at the end of 2024 operations. The high momentum is again going for the company this year with after tax profit in the first quarter nearly four times higher year-on-year at N311.6 million. The company’s key advantages are strong top line growth, slowing cost and elevated margins.
Next on the top price gainers is Vitafoam, which has advanced by 221.7 percent from its opening share price of N23 to N74 in the six months of trading. The company has launched back on track after a bad year in 2024 when its profit crashed from N4.4 billion in 2023 to N952 million.
The company’s 2025 financial year ending September holds high hopes for a big rebound. It unveiled an impressive half year results at the end of March when a profit of N6.7 billion appeared against a loss of N5.6 billion for the same period in the previous year. Its recovery is powered by the absence of foreign exchange losses that ate up its revenue the year before.
Neimeth International Pharmaceuticals is seeing profit for the first time in four years this year and equity traders and investors have cheered the good news with a bullish run on the stock. The company’s share price has advanced by 185.2 percent to close at N6.53 at half year.
The pharmaceutical company has progressed from cutting its previous year’s loss by one-half at the end of 2024 to post an after-tax profit of about N116 million in the first quarter. The upswing is expected to gain speed in the second quarter.
Fidson Healthcare comes next among the wealth-care providers for investors so far with share price advancing by 183.9 percent over the six months of the year to close at N44 at the end of June. Two years of foreign exchange losses caused a loss of momentum on the profit track, but strong revenue gains helped to strengthen performance last year.
This year the strength of revenue and reduced foreign exchange losses have elevated profit capacity. An after tax profit of N3.2 billion was delivered for the first quarter, which is more than three times the corresponding figure last year. Yet a much stronger second quarter is expected.
Presco, the oil palm producer, has oiled the wheel of wealth creation for investors so far this year with its share price climbing 168.4 percent from N475 opening to N1275 by the close of business on June 30 2025. With a combination of fast selling product and able management, more than 57 percent of last year’s closing profit was earned in the first quarter and even a more robust second quarter is expected.
The company engaged high speed gear on the earnings track last year, which is accelerating this year. In 2024 sales revenue more than doubled to N207.5 billion and has sped up to 120.4 percent to N93.8 billion in the first quarter. With low cost and high margins, after tax profit grew by almost 141 percent to N77.9 billion in 2024 and again came close to doubling in the first quarter at N44.6 billion.
Champion Breweries is brewing wealth for investors this year with a share price advance of 162.5 percent in six months of the year to close at N10. Its attraction is a return to profit that is powered by strong gains in sales revenue.
A turnover of N8.5 billion at the end of the first quarter meant additional revenue of over N4 billion for the period, which enabled a rebound from a loss of N824 million in the same period last year to an after tax profit of N985 million.
Coming next is SCOA, which moved up by 161.7 percent on the share price track over the first six months of the year to close at N5.39 at the end of June. The price gain appears to have been driven by the technical conditions of trading rather than earnings fundamentals. The company is still struggling with dropping sales revenue and growing losses as at the end of the first quarter.
| Stock | January Opening Price N | June 30 Closing Price N | Percentage Increase |
| Beta Glass | 64.90 | 333.95 | 414.6 |
| Honeywell Flour | 6.30 | 21.50 | 241.3 |
| The Initiates | 2.50 | 8.25 | 230.0 |
| Vitafoam | 23.0 | 74.00 | 221.7 |
| Neimeth Int’l Pharmaceutical | 2.29 | 6.53 | 185.2 |
| Fidson Healthcare | 15.50 | 44.00 | 183.9 |
| Presco | 475.00 | 1275.00 | 168.4 |
| Champion Breweries | 3.81 | 10.00 | 162.5 |
| SCOA | 2.06 | 5.39 | 161.7 |
| International Breweries | 5.50 | 13.90 | 150.5 |
| Caverton Offshore | 2.32 | 5.74 | 147.4 |
| NNFM | 43.90 | 108.00 | 146.0 |
| Ellah Lakes | 3.16 | 7.64 | 141.8 |
| Nascon Allied | 31.35 | 71.00 | 126.5 |
| Skyway Aviation | 33.45 | 72.95 | 118.1 |
| Livestock Feeds | 4.12 | 8.90 | 116.0 |
| FTN Cocoa | 1.82 | 3.66 | 101.1 |
| ABC Transport | 1.23 | 2.45 | 99.2 |
| Cadbury Nigeria | 21.50 | 41.50 | 93.0 |
| Abbey | 3.00 | 5.75 | 91.7 |
International Breweries makes a surprising entry on the list with a share price advance of 150.5 percent in six months to N13.90 at the end of June. Many years of running losses appear to have come to an end point, as company managers seem to have suddenly found the keys to the profit vaults.
The first quarter operations of the company ended with an unexpected profit of N29.4 billion against a huge loss of N60.4 billion for the same period in 2024 and N113.6 billion loss at full year. Net foreign exchange losses that accounted largely for the loss of the previous year are out of the way so far this year.
Caverton Offshore, the offshore service providers to oil and gas industry, is seeing the light of profitable operations after four years in a dark tunnel of rising losses. Investors and equity traders have rekindled interest on the stock, which gained 147.4 percent from January opening to close at N5.74 in June.
From the company’s rising losses that peaked at almost N54 billion in 2024, a sudden return to profit happened in the first quarter. There was a turnaround from a loss of N1.8 billion in the same quarter in 2024 to an after tax profit of roughly N1.7 billion in 2025. Revenue remains under pressure despite sustaining net exchange gains and finance expenses continue to bite but management slashed operating expenses to eke out profit.
Northern Nigeria Flour Mills has received big stakes by investors evidenced by a share price advance of 146 percent in six months of trading to close at N108 on 30th June. The attraction was impressive interims that held high hopes for the full year results made up to March 2025.
A major profit advance of 165.4 percent to N4.1 billion registered in the third quarter, however vanished at full year with only N1.7 billion to show. Despite the disappointment, the company’s relatively high earnings per share of N9.79 and a total cash dividend of 75 kobo for the 2024/25 financial year have prevented significant loss of the share price gains.
Ellah Lakes, the agricultural company engaged in oil palm and cassava production, has been starving of both revenue and profit for years. Investors however found new confidence on the company that jerked up share price by 141.8 percent over the review period to N7.64.
Years of no revenue but losses may be apparently coming to an end with the appearance of sales revenue of N68.7 million in the company’s third quarter operations at the end of April 2025. That pushed the nine-month revenue figure to N88 million from less than half a million naira level in the previous year. Losses are yet abounding but hope seems to be on the horizon.
Nascon Allied Industries, producers of salt and food seasoning, is on a high speed profit lane this year and investors have positioned themselves on the stock to share in the prosperity. Its share price has risen by 126.5 percent to close at N71 at half year. Net foreign exchange losses that limited profit growth last year have eased.
The first quarter trading ended with an after tax profit of N7.6 billion – more than six times the corresponding profit of N1.2 billion in the previous year and already close to one-half of the full year’s profit of N15.6 billion in 2024.
Skyway Aviation Handling Company is on a flying speed this year and investors and equity traders want to be on board. High stakes on the company’s stock have spurred share price advance of 118.1 percent from January opening to close at N72.95 at the end of June.
The company is raking in a lot more revenue than previously but holding firmly on costs to the elevation of margins and spinning of profit. Turnover was up by 79.5 percent to N10.4 billion at the end of the first quarter and after tax profit multiplied close to four times year-on-year to N3.6 billion – measuring as much as 75 percent of the closing profit of N4.8 billion in 2024.
Livestock Feeds comes next on the list with a share price gain of 116 percent to close at N8.90 for the six months of trading. The company’s first quarter results aren’t however justifying the bullish outburst from the side of earnings fundamentals. Production cost with finance expenses ate up revenue and after tax profit sank from N118 million to N38 year-on-year in the first quarter.
FTN Cocoa attracted a bullish run on its stock on the equities market over the review period that saw the share price more than double at 101.1 percent to N3.66. The company’s stream of losses is yet running though modicums of optimism were read out of the company’s first quarter interim. Sales revenue of N572 million appeared compared to zero in the same period last year and losses trimmed from nearly N9 billion to about N576 million over the period.
ABC Transport, the transportation and logistics company, on a correction from its year’s high, recorded an increase of 99.3 percent in share price to N2.45 at the end of June 2025. The company’s recent business diversification has powered a rebound in earnings.
A big turnaround happened in 2024 from a loss of N540.6 million in 2023 to a profit of over N669 million and the steam is being sustained for the current year. The first quarter operations ended with an after tax profit of N223 million, up from a loss of N79 million in the same period last year. The company’s operating advantages are growing revenue, slowing operating cost and a cut in finance expenses.
Cadbury Nigeria’s share price climbed a clear 93 percent over the first half of the year to close at N41.50 at the end of June. The bullish run reflects the company’s return to profit in the first quarter after two years of huge losses.
The beverages and confectioneries manufacturers pulled back from a loss of N7.3 billion in the first quarter of 2024 and resurfaced to a net profit of roughly N6 billion at the end of March 2025. Its losses stemmed from huge net foreign exchange losses in the preceding past two years, which have changed to net foreign exchange gains of N178 million this year. Investors expect that this favourable change of fortunes would be further extended in subsequent interims.
Abbey Mortgage Bank is a stable runner on the earnings track and investors’ confidence on the bank has increased after it crossed into the N1-billion after tax profit mark last year. Its stock has gained 91.7 percent from January opening price to close at N5.75 at the end of June 2025.
Stable growth in earnings is continuing for the bank this year with revenue up by 68.6 percent year-on-year to N3.8 billion in the first quarter and after tax profit rising by 31.5 percent to over N340 million over the same period.
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