Studio Press records 173% profit growth for 2016

Academy Press

Studio press nig plc records gross profit of NGN2.5 billion for fourth quarter 2016 in contrast to NGN1.5 billion recorded same period 2016.

The company ended the year 2016 with Revenue NGN10.2 billion in contrast to NGN7.8 billion recorded in the year before. Its cost of sales for the year was NGN7.7 billion versus NGN6.3 billion recorded in the year 2015.

Operating profit for the year was NGN1.9 billion compared to NGN1.0 billion recorded in the year before.

Studio Press profit before taxation was NGN470.4 million compared to NGN165.5 million loss recorded in the financial year 2015.

After deducting its tax expenses for the year, the company’s profit for the year rose by 173% to NGN256.6 million from NGN93.7 million loss recorded in the previous year.

Studio Press acquired total assets worth NGN10.1  billion versus NGN10.6 billion recorded in the year 2015. Its total liabilities for the year was NGN8.2 billion compared to NGN8.9 billion recorded in the previous year.

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Company Information

STUDIO PRESS (NIGERIA) PLC is involved Printing and Manufacture of Light Packaging Materials, Labels including Commercial Lithographic Printing. The Company manufactures cartons and light packaging materials.The company is listed on the Nigerian Stock Exchange since 13th September 1979.