Neimeth Plc increases profit by 367 percent
January 31st, 2008 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
No doubt recent developments aimed at turning around the fortunes of Neimeth Plc is paying off. The company recently released is end of year result for the period ended December 31, 2007 which was very impressive.
In the result released, the company grew turnover from N0.92 billion in 2006 to N1.25 billion in 2007. under the same period, profit before tax increased by 367.74 percent from N0.031 billion in 2006 to N0.145 billion in 2007. After tax profit was also impressive as this figure grew by 357.14 percent from N0.021 billion in 2006 to N0.096 billion in 2007.
The company in recent times has embarked on some strtegic developments by launchng new prducts amongst other thins to boost their profitability level. This year might just pay off as shareholders would also expect.
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