A.G Leventis has just reported a net loss of NGN2.5 billion for the full year 2016. The losses further widened when compared to 2015 full year when it reported a net loss of NGN176.9 million.
This means on a year on year basis, net loss rose by 1350%.
Full year revenue was NGN12.7 billion revenue compared to NGN12.5 billion posted same period 2015. Its costs of sales for the period was NGN10.0 billion in contrast to NGN8.3 billion recorded in 2015.
The company experienced 48% fall in gross profit to NGN2.1 billion in q3 2016 against NGN4.1 billion recorded in 2015. It’s operating loss for the period was NGN1.0 billion against NGN1.1billion recorded in 2015.
Net loss before taxation was NGN2.9 billion in the period under review against NGN291.2 million profit reported in 2015.
Total assets for the period was NGN20.3 billion compared to NGN22.5 billion recorded in 2015. Its total liabilities was NGN13.9 billion compared to NGN13.4 billion recorded in 2015.
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