Smart Products net profit fell by 11% in Q1 2016

smart products

Coming up with another quarterly result, Smart Products has just reported that its first quarter 2016 net profit dropped by 11% to NGN5.2 billion against NGN16.6 billion posted in 2015.

Total revenue for the quarter fell to NGN11.0 billion revenue compared to NGN45.1 billion recorded in the financial year 2015. It recorded NGN1.2 billion other income against NGN7.6 billion recorded in the year before.

Profit before tax for the period under review was NGN5.2 billion against NGN23.0 billion recorded in 2015.

The total asset was NGN146.4 billion assets in 2016 compared to NGN131.3 billion recorded in 2015. Its total liabilities for the period was NGN63.0 billion versus NGN58.4 billion recorded in 2015.

For more details on the report, click here>>>

Company Information

Smart Products Nigeria Plc is involved in the processing of palm kernel oil in Nigeria. The Company produces palm kernel oil and derivatives. The Company is listed on the Nigerian Stock Exchange since 26th July 1992.

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