Austin Laz &co records NGN146 million loss for 2016

Nigerian Enamelware

Austin Laz & Co has just reported a net loss of NGN146.9 million compared to NGN 59.0 million recorded in the previous year. NGN217.4 million compared to NGN261.0 million recorded same period 2015.

Gross revenue for the period was NGN217.4 million compared to NGN261.0 million recorded same period 2015. It’s costs of sales for the period was NGN208.2 million against NGN227.3 million reported in the previous year.

The company recorded NGN9.1 million gross profit for the year 2016 in contrast to NGN33.7 million reported in fiscal year 2015.

Austin Laz & Co said it’s loss before tax in the period in review was NGN146.0 million against NGN58.4 million posted in the year 2015.

Austin Laz & Co Nigeria plc acquired NGN1.7 billion worth of asset in 2016 in contrast to NGN1.8 billion acquired in 2015. It’s total liabilities was NGN 161.2 million versus NGN119.6 million recorded in the year before.

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Company Information

Austin Laz and Company Plc is an indigenous manufacturer of industrial and consumer products. It is a conglomerate comprising of four major divisions: Refrigeration, Thermoplastic, Aluminum, Building Materials. The company was registered with the Corporate Affairs Commission (RC-48127) on 5th July 1982 as an indigenous Refrigeration Engineering, Contracting and Manufacturing Firm.

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