UNILEVER shares jump on Q2 results

Shares of Unilever Nigeria Plc ( UNILEVER ) jumped 10% today after the Company reported second quarter Profit after tax of N 2 billion. 



That PAT number is up from N 50 million UNILEVER posted as PAT for Q2 of last year. For the first six months of 2017 PAT was up almost 30%.

Unilever is in the middle of its rights issue which is being offered at N 30. Shares rose to N 36.38 per unit. 

So what a coincidence that such great results come in between the rights issue.