R.T Briscoe records NGN481.1 million loss in 2017

Nigerian Enamelware

R.T Briscoe has reported a net loss of NGN481.1 million in 2017 against NGN582.3 million recorded in 2016.

Revenue for the period was NGN1.2 billion revenue compared to NGN3.2 billion recorded same period 2016. it costs of sales for the period was NGN714.0 million against NGN2.7 billion recorded in 2016.

The company recorded NGN514.9 million gross profit in 2017 in contrast to NGN488.9 million recorded in 2016. its operating profit for the period was NGN73.9 million against NGN68.6 million loss recorded in 2017.

The automobile company said its loss before tax was NGN481.1 million recorded in 2017 compared to NGN582.3 million recorded in 2016.

R.T. Briscoe said it acquired NGN9.0 billion assets in q1 2017 in contrast to NGN8.9 billion recorded in 2016 while its total liabilities was NGN12.4 billion against NGN11.4 billion recorded in 2017.

Company Information

R.T Briscoe Nig Plc is a leading provider of automotive products, industrial equipment and real estate . Since 1957, when Briscoe was incorporated, the company has provided superior quality products and world class after sales support throughout Nigeria. Driven by quality,Briscoe has sustained its people-first approach to become a truly diversified company that always adds value to the consumer.

We have adopted the “customer-first business philosophy which guides us as we strive to deliver the highest standards of excellence to all stakeholders Our product portfolio includes some of the world’s most-recognised and widely respected automotive and industrial equipment brands. With a robust customer base garnered over the past 59 years of quality customer service and a wide branch network across Nigeria, Briscoe is poised to sustain its track record of providing quality products and services to meet the demands of the future.