Greif Nigeria Plc profit rose by 113% in Q1 2017

11 plc

Greif Nigeria Plc in spite of the recession in the economy recorded 97% a rise in its net profit for q1 2017.

Total revenue of the company rose to NGN333.0 million in 2017 against NGN169.1 million recorded same period in 2016.

The company recorded Gross profit of NGN48.4 million compared to NGN27.9 million recorded in 2016.

The company  recorded total income of NGN20.4 million in the year in review compared to NGN9.6 million recorded in the financial year 2016,which represents 113% rise in profit.

The company’s operating profit rose to NGN26.3 million against NGN11.3 million recorded in 2016.

Greif Nigeria Plc acquired total assets of NGN740.0 million in q1 2017 against NGN720.7 million recorded same period 2016. It recorded total liabilities of NGN378.2 million in contrast to NGN354.2 recorded in fiscal year 2016.