Thomas Wyatt Nigeria reports 37% fall in losses for Q1 2017

Nigerian Enamelware

Thomas Wyatt Nigeria plc in its financial report for the first quarter of the year is reporting 37% reduction in loss to NGN41.9 million compared to NGN66.4 million recorded in the same period in the financial year 2016.

The company ended the quarter with NGN64.4 million revenue in contrast to NGN41.6 million posted in the year before, which represents 55% increase year on year comparison while gross profit was NGN2.7 million against NGN21.8 million loss recorded in the previous year.

Thomas Wyatt total equity increased by 27% to NGN185.7 million against NGN145.7 million in the year before.

Total assets for the period in review lowered to NGN490.4 million compared to NGN522.0 million recorded in the fiscal year 2016 while total liabilities was NGN678.1 million versus NGN667.8 million in 2016.

Company Information

Thomas Wyatt Nigeria Plc. is the pioneer manufacturer of school and office stationery and large scale printers which hitherto was done in the United Kingdom and imported into the country.

The initial business was limited to the manufacturing of schools exercise books. But today the company’s policy of steady expansion of the product lines and manufacturing capacity has been given meaning in its product range which peaked at over two hundred and fifty stationery items marked under the well known APEX MILL trade mark. The products include exercise books, ruled papers, duplicated books, spiral and quarter bound books, photocopying and typing papers and full compliment of envelopes. The company also print calendars, diaries etc.

The management team has seasoned hands to guarantee clients satisfaction. Our clientele include Unilever Nigeria Plc, Nigerian Bottling Company, MTN Communications, Four Mills of Nigeria Plc, Mr. Biggs, College of Medicine, University of Lagos, Obafemi Awolowo University, Corona School Trust Council, Queen College etcetera.

The shares of the company were Company initially held by foreigners but Nigerian equity participation in the company was realized in 1961 when 10.7% of the company’s shares were held by Nigerians. Presently, 93.2% of the company’s shares is held by Nigerians while Foreigners or nonresident shareholders hold 6.8%.

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