Newrest ASL profit dips by 28% in Q1 2017


Newrest ASL Nigeria has posted a net profit of NGN131.0 million against NGN167.7 million posted in 2016, which represents 28% fall year on year comparison.

Total revenue rose to NGN1.3 billion against NGN1.1 billion reported same period 2016. Its cost for sale for the period was NGN406.8 million in contrast to NGN363.2 million recorded in 2016.

The company said its gross profit increased to NGN935.8 million compared to NGN769.2 million recorded in the previous year. While its operating profit was NGN113.3 million against NGN3.7 million recorded in the fiscal year 2016.

Newrest ASL Nigeria total assets for the period remained at NGN6.4 billion as it were in the financial year 2016. Its total liabilities for the period was NGN3.0 billion versus NGN3.2 billion recorded in the year before.

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Company Information

Newrest ASL Nigeria Plc, formerly Airline Services & Logistics Plc, provides catering and hospitality services to international airlines and airports in Nigeria. The Company delivers catering service to the civil aviation sector, as well as to oil and gas sector and offers aviation catering services in Rwanda.

Its segments include Lagos Inflight Catering, which includes inflight catering, laundry and handling services; Abuja Operations, which includes inflight catering, lounges and restaurant services provided in the Abuja office; Airport Operations, Lagos, which provides restaurant, lounge, trolley service and duty free shop; Kigali Inflight Catering, which includes inflight catering, handling and related services, and Port-Harcourt Oil and Gas Catering, which includes other catering and related services. The Company manages restaurants and bar outlets within Lagos and Abuja International Airports. It manages duty free outlet at Murtala Mohammed International Airport, Lagos.