Honeywell Flour Mills Plc, Betaglass Plc, and The Initiates Plc (TIP), with a combined market capitalisation of N377 billion, have recorded a 200 per cent surge in investor confidence, delivering returns and leading the stock market in the first half of 2025.
According to data from the Nigerian Exchange Limited (NGX), the stocks not only outpaced the broader market but also defied economic headwinds to emerge as the best-performing as of June 30, 2025.
The NGX data revealed that Beta Glass Plc with a market capitalisation of N200 billion emerged as the best performing, delivering an impressive year-to-date return of 415 per cent gain within six months. Betaglass, which reopened for transactions in January at a share price of N 64.90 kobo, rose to N333.95 kobo on Monday, June 30, 2025, ranking it first on the NGX in terms of year-to-date performance. Shareholders are optimistic about the company knowing the stock has accrued 29 per cent over the past four-week period.
Following closely was Honeywell Flour Mills Plc, which posted a year-to-date return of 241 per cent. The company began the year with a share price of N6.30 kobo and has gained 241 per cent on that price valuation to close at N21.50 kobo, ranking it second on the NGX in terms of year-to-date performance. Its market capitalisation is currently at N170 billion.
TIP Plc with a market capitalisation of N7.34 billion began the year with a share price of N2.50 and has gained 230 per cent on that price valuation to close at N8.25 kobo ranking it third on the NGX in terms of year-to-date performance. Shareholders can be optimistic about TIP knowing the stock has accrued 33 per cent over the past four-week period.
Operators said their stellar rise was anchored in a blend of company-specific fundamentals, robust earnings growth, operational upgrades, and positive market sentiment.
For Honeywell Plc, after ending 2024 with a pre-tax loss of ₦10.12 billion, the company returned to profitability with N21.4 billion in pre-tax earnings in Q1 2025. This recovery was underpinned by a near-doubling of revenue to N373.5 billion.
Investors interpreted this as a sign of strong internal reforms, improved cost controls, and revitalised demand in the essential staples sector.
In addition, Honeywell is firmly positioned in a segment where demand remains relatively inelastic as a producer of consumer staples like flour, giving it a shield against inflationary pressures.
The company also benefited from strong liquidity on the NGX, trading over N4 billion worth of shares in the first quarter alone.
TIP’s performance was strongly driven by technical and sentiment-based indicators. The stock traded close to its 52-week high for most of the second quarter, signalling persistent investor confidence and strong demand.