Nigeria Enamelware plc profit declined by 196% in q1

Nigerian Enamelware

For the period ended April 2017, Nigeria Enamelware plc is reporting 196% fall in profit to NGN45.0 million compared to NGN133.4 million recorded same period in the financial year 2016.

The company ended the period with NGN2.5 billion turn over in contrast to NGN2.7 billion recorded in the previous year while gross profit was NGN570.9 million against NGN618.3 million in the year before.

Nigeria enamelware plc said it acquired NGN5.8 billion total assets in the period in review against NGN4.5 billion in the year before while total liabilities was NGN4.3 billion versus NGN3.1 billion in the year 2016.

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Nigerian Enamelware Plc is involved in the manufacturing, marketing and distribution of enamelware products. The Company produces Miscellaneous Home furnishings Stores and Import body Jewelry and electrical bicycles from China. The Company was listed on the Nigerian Stock exchange since the 28th of December 1979.