By Ogbuotobo Chuks

Future prospects are indeed looking bright for indigenous cable manufacturing company,Cutix Plc as the company has migrated from the second tier segment of the Nigerian Stock Exchange to first tier.

This is coming 16 years after there was a failed attempt in 1992 by the company to transit to the first tier segment of the market. In its 2007 financial documents,turnover increased from N0.71 billion in 2006 to N1.064 billion in 2007. Profit before tax climbed 68 percent, from N0.22 billion in 2006 to N0.37 billion in 2007. Consequently, after tax profit moved from N0.08 billion in 2006 to N0.19 billion in 2007.

The company since the beginning of 2008 has enjoyed the patronage of investors which has impacted positively on its share price. Lets hope they can weather the storm and remain consistent in the first tier segment of the market.

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This entry was posted on Tuesday, February 19th, 2008 at 9:55 am and is filed under Stock Market News. You can follow any responses to this entry through the RSS 2.0 feed. Tags: Cutix
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