SCOA saw 18% fall in Q1 profit

Odunayo Olagundoye

SCOA PLC said its net profir for Q1 rose by 18% to NGN2.5 billion in contrast to NGN2.9 billion recorded in the year 2016.

The company ended the first quarter 2017 with NGN978.1 million revenue compared to NGN1.2 billion recorded same period 2016. Its costs of sales for the period was NGN586.8 million in contrast to NGN811.1 million recorded in the year 2016.

The company said in its report the its profit before tax  for the period was NGN2.5 billion against NGN4.2 billion recorded in fiscal year 2016.

SCOA Nigeria plc acquired NGN5.7 billion assets in 2017 compared to NGN6.1 billion recorded in the financial year 2016. Its total liabilities for the period was NGN5.4 billion versus NGN6.2 billion recorded in 2016.

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Company Information

SCOA NIGERIA PLC is a Nigerian Conglomerate quoted in the Nigerian Stock Exchange with its Head Office at 156 Isolo/Oshodi Expressway, Mushin Lagos. It has been contributing towards the growth and development of the Nigerian economy for over 70 years, with business activities covering most of Nigeria’s economic life. The company employs over 400 people with offices in Abuja,Lagos, Kaduna, Kanu, Warri and Port Harcourt. The plans are to have representations in all the States in Nigeria.

Technology, infrastructural development, equipment supply and turnkey solutions is our business. We are a leading project & technology management firm and service provider in the field of information and communication technology (ICT), infrastructure development,  and à number of equipment supply and services. Our consulting & project management expertise, and service model approach is based on a comprehensive understanding of markets, business transactions and technologies that has been proven worldwide, we are also specialized in the provision of fast rollout turnkey packages and full site services for the deployment of infrastructures, farming, farming technologies, water engineering, food Technologies, medical equipment, and other telecommunication-related projects in Nigerian market. One of our focal points is integrated consulting and technology development which traverses the conception and implementation of solutions involving the deployment of modern technologies.