Losses mounts for Afromedia, reports NGN235 million loss for Q2

The Tourist Company of Nigeria Plc

Afromedia plc loss for the third quarter of the year reduced to NGN235.0 million in contrast to NGN1.2 million loss recorded same period in the financial year 2016.

The company ended the quarter with NGN328.7 million turn over compared to NGN342.6 million it recorded in the previous year while gross profit was NGN24.1 million against NGN608.6 million gross loss recorded in the year 2016.

Afromedia’s total assets at the end of the period was NGN1.6 billion in contrast to NGN1.8 billion in the year before while total liabilities was NGN8.2 billion versus NGN8.2 billion in the year 2016.