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Nigerian Enemalware reports 66% profit decline in FY
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By Desola Akindele
August 16, 2017 13:41:13pm GMT      |      Views: 538

WorldStage Newsonline-- Nigerian Enamelware Plc. has reported a 66 per cent decline in its Profit After Tax (PAT) for its full year (FY) ended 30th April, 2017 from N133.5 million to N45.1 million.

Enamelware Manufacturing And Marketing Company’s revenue of N2.5 billion was also down by 9.6 per cent from N2.8 billion while profit before tax of N67.8 million was reported for the review period as against N177 million declared in 2016, representing a 62 per cent decline.

Enamelware’s income tax expense for the period was 25 percent lower than previous year at N22.8mn. The company, however, grew net assets marginally by 1.1 per cent to N1.4bn from N1.41bn in 2016.

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