Cutix grows profit by 277.5% to N177m in Q2

WorldStage Newsonline– Cutix Plc, a Nigerian quoted firm which manufactures and markets electrical, automobile and telecommunication wires, cables and related products has released its second quarter accounts for the period ended 31st October 2020

with 35.74% growth in revenue to N3.311 billion in six months from N2.439 billion in 2019.

Profit after taxation in six months jumped by 117.75% to N307.638 million from N166.356 million in 2019.

Revenue for the second quarter (Q2) rose to N1,829 billion from N1.164 billion in Q2 2019 while profit for the period rose by 277.5% to N177.193 million from  N46.937 million in Q2 2019.

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