CAP plc posts 6% decrease in profit for nine months


Chemical and Allied plc (CAP Plc) is reporting 6% decrease in profit to NGN964.6 million for the nine months ended in 2017 compared to NGN1.0 billion reported in the same period in the financial year 2016.

The company ended the period with NGN4.9 billion revenue in contrast to NGN4.7 billion it ended the previous year, which represents 4% increase year on year comparison.

Gross profit for the period was lower at NGN2.2 billion against NGN2.3 billion posted in the year before while operating profit dropped by 11% to NGN1.2 billion from NGN1.4 billion recorded in the fiscal year 2016.

CAP Plc said its total assets was NGN4.3 billion against NGN4.9 billion acquired in the year 2016 while total liabilities stood at NGN2.6 billion against NGN2.6 billion in the year before.