Poly Products release two results.
May 14th, 2008 Ugonna Maduagufor || ugonna@stockmarketnigeria.com
(by Ugonna Maduagufor)
Poly Product Nigeria Plc, a company listed into the Nigerian Stock Exchange in 1979, now under the Packaging sector of the exchange and specialised in the manufacturing of polythene products, released two earnings results to the market yesterday. Firstly, a half year unaudited result for half year ended September 30th 2007 and another unaudited result for a nine months period ended 31st December 2007.
The half year unaudited result for the half year ended September 30th 2007, indicates a N13.221 million PROFIT AFTER TAXATION, being a 71 percent improvement on previous year 2006 comparable period earnings result of N7.743 million. other features of the result includes: a TURNOVER of N775.371 million in 2007 being a 10.47 percent reduction on year 2006 comparable periods turnover of N866.091 million; a Profit Before Tax of N18.887 million as against a comparable year 2006 PBT of N11.062.
However, the second result presented to the Nigerian stock Exchange by same company being a nine months ended 31st December 2007 unaudited earnings result shows: a PROFIT AFTER TAXATION of N20.810 million as against a previous year 2006 comparable period of N15.325m, indicating a 3.58 percent improvement. Other features included: a TURNOVER of N1.211 billion as against a higher comparable year 2006 period of N1.253 billion, again showing a 3.35 percent reduction in Turnover; the PROFIT BEFORE TAXATION was N29.729 million in 2007 against a comparable year 2006 PBT of N21.893 million, indicating a 35.79 percent improvement.
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