Academy Press plc records net loss NGN283.5 Million in Q3 2016

Studio Press

Academy Press plc in its financial report recorded Gross profit of NGN460.3 million in third quarter 2016 compared to NGN510.7 million recorded same period 2015.

The report shows that the company made net loss of NGN283.5 million in 2016 compared to NGN139.1 million in third quarter 2015.

Academy Press plc acquired total assets of NGN3.0 billion compared to NGN3.5 billion acquired same period 2015. It reported total liabilities of  NGN2.7 billion in q3 2016 in contrast to NGN2.9 billion recorded in fiscal year 2015.

The company started the year with Revenue of NGN1.3 billion compared to NGN1.5 billion it started with in 2015. Academy Press plc also recorded operating loss of NGN148.4 million compared to profit of NGN51.3 million recorded in same period 2015.

Company Profile

Academy Press Plc was incorporated in Nigeria as a private limited liability company on 28th July, 1964. By a special resolution, it became a public limited liability company on 22nd October, 1991. It offered its shares to the public in November, 1994 and these shares were listed on the Nigerian Stock Exchange on 15th June, 1995. The registered address of the company is located at 28-32, Industrial Avenue, Ilupeju Industrial Estate, Ilupeju, Lagos. The principal activity of the company is the printing of educational and general books, commercial printing of diaries, labels, calendars, periodicals, annual reports, confidential and other printing works. Theconsolidated financial statements of the Group for the year ended 31 March, 2016 comprise the Company and its subsidiaries.