Livestock feeds profit surged by 665% profit in Q1

livestock feeds

Livestock feeds plc in its report said its ended the first quarter of 2017 with NGN3.1 billion revenue compared to NGN2.0 billion recorded in the same period 2016.

It’s costs of sales for the period was NGN2.7 billion against NGN1.9 billion recorded in the year before.

The company in its report said its gross profit increased to NGN382.9 million against NGN173.1 million recorded in the year 2016, while its operating profit jumped to NGN263.6 million against NGN87.0 million recorded in the year 2016.

Livestock feeds recorded NGN25.9 million profit before tax in the period in review in contrast to NGN3.4 million recorded in the fiscal year 2016.

After settling its tax for the period, the company’s profit for the period was NGN17.6 million versus NGN2.3 million recorded in the previous year,which represents increase year on year comparison.

Total asset at the end of the period was NGN8.2 billion compared NGN5.1 billion recorded in the same period in 2016. Total liabilities was NGN6.0 billion versus NGN3.0 billion recorded in 2016.

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