Aluminium Extrusion Industries profit jumps by 6% in 2016

Aluminium

Aluminium extrusion industries plc ended the year with revenue of NGN2.9 billion compared to NGN2.5 billion posted in 2015.

Cost of sales for the year was NGN2.6 billion in contrast to NGN2.1 billion recorded in 2015.

Gross profit of NGN342.6 million for fourth quarter 2016 compared to NGN333.7 million recorded in 2015.

The company said it recorded NGN79.6 as its administrative expenses for the year compared to NGN82.9 recorded in 2015.

The company’s profit before tax was NGN127.5 million for 2016 compared to NGN120.4 million recorded in the financial year 2015.

After deducting its tax expenses for the year, its profit for the year in review was NGN88.0 million compared to NGN82.9 million, which represents 6% increase year on year comparison.

The company’s total assets for the year NGN2.2 million compared to NGN1.8 million recorded in 2015. Total liabilities for period was NGN708.4 million in contrast to NGN705.2 million recorded in the year before.

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