NCR Nigeria Surges Over 60% Month-to-Date, Breaks Through ₦20 Price Barrier

NCR (Nigeria) Plc has continued its remarkable rally, soaring more than 60% so far in November and breaking through the N20 resistance level to reach a new peak of N25.60.

The stock has sustained a strong upward trajectory since July 2025 and is poised to close another month in positive territory. Its performance in the second half of the year has now climbed to an impressive 326.7% on the NGX.

The company’s recently released nine-month financials show a dramatic turnaround: NCR reversed a pre-tax loss of N2.6 billion recorded in the same period of 2024 to deliver a pre-tax profit of N237.9 million. This recovery was largely attributed to strict cost discipline, especially in administrative expenses, which fell sharply from N2.9 billion—previously inflated by exchange-rate losses—to just N91.7 million.

With revenue of N1.49 billion for the period, the improved cost structure translated into a net profit of N237.9 million. The October 27, 2025 earnings release appears to have strengthened investor confidence, contributing to a robust 412% year-to-date gain for the banking and retail technology solutions firm.

Market Trend

NCR Nigeria opened the year at N5.00 and gradually climbed to N7.30 by the end of January. The stock then moved sideways from February through April before slipping in May and touching N6.00 by June.

Bullish momentum returned in July and intensified through August, pushing the price above N10.00 and closing August at N11.55. The rally extended into September as the stock hit N16.00, lifting its third-quarter gain to 166%.

Although activity slowed in October—likely due to a closed trading window—momentum reignited after the third-quarter earnings release in late October. Renewed investor interest has since fueled a strong November surge, driving the stock above N20 and to a month-to-date gain of 60%, closing at N25.60 as of the week ending November 14, 2025.

Financial Performance

For the nine months ending September 30, 2025, NCR Nigeria reported revenue of N1.4 billion, a 13.9% year-on-year increase.

World Customer Services generated N1.1 billion—about 73.5% of total revenue—while Financial Services contributed N396.8 million.

The cost of sales rose 11.5% to N1.17 billion, resulting in a gross profit of N321.8 million, up from N260.5 million in the previous year.

The company also benefited from N36.7 million in other income and a drastic reduction in administrative expenses—from N2.9 billion in 2024 to just N91.7 million. This allowed NCR to post an operating and pre-tax profit of N237.9 million, with no finance costs recorded.

On the balance sheet, total assets increased to N5.3 billion from N4.4 billion in 2024, while retained losses narrowed to N4.4 billion from N4.7 billion.