Austin Laz Records NGN42 Million Net Loss In Q2

Austin Laz

Austin Laz & Company PLC, a manufacture housing elements and commercial cooling products said it made a net loss of NGN42,1 million for the second quarter of 2016.

This represents about 5.1% fall in net loss when compared to its second quarter profit for 2015 which stood at NGN44,4 million.

As a glimmer of hope for the company, gross revenue for the quarter rose by 249% to NGN130 million versus NGN37,2 million.

As an indication of where its growth would come from, Austin Laz said on its website that it will be increasing capacity in the area of UPVC Smart Roof and PVC Ceiling Tiles, PVC Ceiling production and corrugation of Aluminium Long-span Roofing Sheets vis a vis trading on Aluminium.

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