May & Baker Nigeria’s profit surged up by 216% in q2

Polyphor

May and Baker Nigeria Plc in its financial report for second quarter 2017 said its profit surged up by 216% to NGN 94.8 million compared to NGN30.0 million in the same quarter 2016.

The company’s revenue for the period was NGN4.4 billion in contrast to NGN3.7 billion in the year before while gross profit was NGN1.3 billion against NGN1.0 billion in the fiscal year 2016.

May and Baker Nigeria acquired NGN 7.3 billion total assets in the year under review compared to NGN7.2 billion in the year before while total liabilities was NGN1.7 billion against NGN2.9 billion in the year 2016.