Arbico PLC, a construction and civil engineering with interest in investment in and operation of infrastructure has reported a total of NGN55,9 million as its net profit for the first half of the year.
The company is moving out of its net loss of NGN17 million recorded last year.
Arbico further cut its cost of sales for the first half of the year to NGN1,6 billion versus NGN1,8 billion spent last year.
The company’s current asset stood at NGN3,4 billion. When compared to its current liabilities NGN1,6 billion, Arbico’s working capital is therefore healthy.
Arbico Plc is a full service, building and civil engineering contracting company. It was established in 1958 and has been quoted on the Nigerian Stock Exchange, NSE since 1978.
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