Cutix posts 35% rise in profit for q2

Cutix

Cutix plc said its profit for the second quarter of the year surged up by 35% to NGN257.4 million compared to NGN190.5 million reported same period in the financial year 2016.

The company said it ended the quarter with 29% increased revenue of NGN3.6 billion in contrast to NGN2.8 billion recorded in the previous year while gross profit was higher at NGN1.0 billion against NGN733.3 million in the year before.

Cutix plc said its total assets for the period was NGN2.3 billion against 1.8 billion in the year 2016 while total liabilities was NGN1.3 billion versus NGN1.0 billion in 2016.

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