Nigeria Enamelware reports 1.6% rise in profit in Q1

Nigeria Enamelware reports 1.6% rise in profit in Q1

Nigeria Enamelware plc is reporting 1.6% rise in profit to NGN6.o million for the first quarter of the year compared to NGN5.9 million recorded same period in the financial year 2016.

The company ended the period with lower revenue at NGN 419.7 million in contrast to NGN443.9 million posted in the previous year.

Gross profit was lower at NGN125.9 million against NGN135.3 million in 2016.

Nigeria Enamelware plc said its assets for the period was NGN6.5 billion for q1 2017 compared to NGN4.7 billion same period in 2016 while total liabilities was NGN5.0 billion versus NGN3.3 billion in the year before.