NCR Nigeria Stock Soars 31% in September as Half-Year Profit Signals Major Turnaround

NCR (Nigeria) Plc shares have surged by over 31% so far in September, climbing to ₦15.20 as investors respond to the company’s improved financial results. The technology solutions provider has extended the bullish run that began in August, when its stock price jumped sharply on the back of positive earnings. Year-to-date, the shares are up an impressive 204%, supported by trading volumes of 6.6 million shares on the Nigerian Exchange (NGX).

The rally comes after NCR Nigeria reversed a half-year loss of ₦1.4 billion in H1 2024 to post a pre-tax profit of ₦44.6 million in H1 2025. This performance marks a dramatic turnaround for the company, which supplies hardware, software, and services to banks and retailers across Nigeria. The return to profitability has rekindled investor confidence and pushed the stock to levels last seen more than a decade ago.

Key to the improved results were aggressive cost controls and steady revenue growth. Administrative expenses fell from ₦1.4 billion to just ₦118.3 million year-on-year, while cost of sales dropped 10% to ₦737.7 million. Revenue from contracts with customers rose to ₦899.6 million from ₦790.9 million, boosted by ₦614 million from World Customer Services and ₦285.5 million from its Financial Services Group.

NCR Nigeria began 2025 at ₦5.00 per share and edged up to ₦7.30 by the end of January, before drifting sideways through the second quarter. Positive momentum returned in July following the release of its H1 2025 results on July 28, propelling the stock past ₦10.00 to close August at ₦11.55. The ongoing rally has now pushed the price above ₦15, with analysts eyeing the ₦18 level last reached in May 2013.

With total assets rising to ₦5.3 billion from ₦4.4 billion and retained losses narrowing slightly to ₦4.6 billion, NCR Nigeria appears to be regaining its financial footing. Investors are watching closely to see whether the cost discipline and revenue gains can be sustained into the second half of the year. If momentum continues, the stock could cement its status as one of the standout performers on the NGX in 2025.

source: nairametrics