Arbico plc reports NGN41.4 million profit in nine months

Arbico plc reports NGN41.4 million profit in nine months

Arbico plc in its financial report for the nine months in September recorded NGN41.4 million profit compared to NGN117.4 million reported same period last year, representing 64% decrease in profit year on year comparison.

The company ended the period with NGN3.8 billion revenue in contrast to NGN2.9 billion recorded in the previous year. Meanwhile, gross profit lowered to NGN482.5 million from NGN637.6 million in the year before.

Arbico plc declared NGN4.7 billion worth of assets in the period under review compared to NGN3.4 billion recorded in the year before while total liabilities was NGN4.0 billion versus NGN4.3 billion in 2016.