Nigerian Stock Exchange: Aluminium Extrusion Industries, Ekocorp Plc release results.
May 15th, 2008 Ikechukwu Emelike || ikechukwu@stockmarketnigeria.com
By Ikechukwu Emelike.
Aluminium Extrusion Industries plc and Ekocorp plc have just made available their first quarter results to the floors of the Nigerian Stock Exchange.
Aluminium Extrusion Industries Plc.
Aluminium Extrusion Industries plc a company founded in 1982 which produces extruded aluminium products with business sector(s) in Manufacturing - Alumina and Aluminum Production and Processing, General Manufacturing, just made public its first quarter results for the period ended March 31, 2008. The company which is listed in the Industrial and domestic products sub sector on the floor of the Stock Exchange was able to increase its turn over for the three months period by 13.1 percent from N247.97 million in the same period in 2007 to N280.47 million n 2008.
The company’s profit before tax for the period moved from N6.55 million in comparable period in 2007 to N10.62 million in 2008 clearly showing an increase of 62.1 percent. After tax profit was also good as it attained an appreciation 55.6 percent from N5.86 million in the three months in 2007 to N9.12 million in 2008.
Ekocorp Plc.
Ekocorp plc also released its first quarter result for the period ended March 31, 2008. Highlights of the results showed that the company’s turnover appreciated by 29.3 percent from N116.32 million in the same period in 2007 to N150.38 million in 2008.
Profit before tax grew by 13.4 percent from N22.56 million in 2007 to N25.58 million in 2008. The company’s after tax profit moved from N20.30 million recorded in the first three months in 2007 to N23.02 million also indicating an increase of 13.4 percent
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