The Next Edition
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
No Result
View All Result
The Next Edition
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
Home Top News

May & Baker Posts N438.9m Profit After Tax In Six Months

Next Edition by Next Edition
August 6, 2020
in Top News
May & Baker Posts N438.9m Profit After Tax In Six Months
0
SHARES
1
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

May & Baker Nigeria Plc. On Thursday, reported a profit after tax of N438.9 million for the six months ended June 30, 2020.

May & Baker Posts N438.9m Profit After Tax In Six Months

You might also like

Gunmen Attack Edo Seminary, Kill NSCDC Officer, Abduct 3 Students

Tragedy As 3-Year-Old Boy Dies After Falling Into Open Soakaway In Lagos

NAFDAC Warns On Recalled U.S. Supplements

The company stated this in its half year result, published by the Nigerian Stock Exchange (NSE).

The result showed that the profit after tax increased by 51 per cent when compared with N290.8 million achieved in the comparative period of 2019.

Its pre-tax profit stood at N645.4 million in contrast to N427.7 million recorded in the corresponding period of 2019.

The company posted an operating profit of N687.8 million in contrast to N504.7 million posted in the comparative period of 2019.

READ ALSO: Deals on Nigerian Stock Exchange hit N97.08 billion in July

Similarly, gross profit rose to N1.6 billion from N1.3 billion achieved in 2019, while cost of sales dropped slightly to N2.5 billion from N2.7 billion in 2019.

In the period under review, distribution, sales and marketing expenses increased to N618.7 million from N513.3 million posted in 2019.

Further analysis of the result showed that administrative costs dropped to N265.7 million from N362.5 million recorded in the comparative period of 2019.

Also, finance costs dropped to N41.3 million from N109.9 million as a result of lower interest paid on bank loans and overdrafts.

The company posted an interest income of N6.9 million during the period under review from N28.8 million in 2019.

The company attributed the significant decline to lower interest earned on short term investments (fixed deposits) with commercial banks in the country as a result of low yield environment.

NAN

Tags: Baker Nigeria PlcNigeria Stock Exchange
Next Edition

Next Edition

Recommended For You

New Armed Group Emerges In Zamfara; Comprises Locals And Foreigners – Senator

Gunmen Attack Edo Seminary, Kill NSCDC Officer, Abduct 3 Students

An officer of the Nigeria Security and Civil Defence Corps (NSCDC) was killed when gunmen attacked the Catholic Immaculate Conception Minor Seminary in Ivianokpodi, Agenebode, Etsako East Local...

Tragedy As 3-Year-Old Boy Dies After Falling Into Open Soakaway In Lagos

Tragedy As 3-Year-Old Boy Dies After Falling Into Open Soakaway In Lagos

A three-year-old boy, Chibuike Uba, has died after falling into an uncovered soakaway in the Babarinsa area of Ibeju-Lekki, Lagos State.   The tragic incident occurred on Wednesday...

NAFDAC Warns On Recalled U.S. Supplements

NAFDAC Warns On Recalled U.S. Supplements

The National Agency for Food and Drug Administration and Control (NAFDAC) has alerted Nigerians about the recall of certain multivitamins and iron supplements in the U.S. NAFDAC, via...

US Visa Applicants to Submit Social Media Handles, Email Addresses

US Cuts Nigerians’ Visa Validity To Three Months

  The United States Department of State has announced an update to its non-immigrant visa policy for Nigerian citizens. According to a press release issued by the US...

Next Post
Okopido's Death: I Am Totally Devastated -Akpabio

Okopido's Death: I Am Totally Devastated - Akpabio




Related News

C’River will be first to process cocoa beans to chocolate – Ayade

Looted Items: Gov Ayade Orders House To House Search In Cross River

Alleged Murder Involvement: Umahi Sacks Two Aides

Alleged Murder Involvement: Umahi Sacks Two Aides

Amotekun: ‘Go Ahead, Arrest Us, We Will Never Stop-Fani-Kayode

Amotekun: ‘Go Ahead, Arrest Us, We Will Never Stop-Fani-Kayode




The Next Edition

Office Address

3B, Agboola Aina street, Off Toyin Street,
Ikeja, Lagos.

Quick Contact Details

Phone:
08033018430
Whatsapp:
08051679910

Email:
[email protected]
[email protected]

Categories

  • Aviation
  • Beauty
  • Breaking News
  • Business
  • Columnists
  • Editorial
  • Entertainment
  • Fashion
  • Featured
  • Football
  • Foreign
  • Headline News
  • Home & Garden
  • Interviews
  • Investigations
  • North Central
  • North East
  • North West
  • Opinion
  • Parenting
  • Politics
  • Relationships
  • South East
  • South West
  • South-South
  • Special Reports
  • Sports
  • Top News
  • Vox Pops

© Next Edition Business Development Limited

  • About Us
  • Advert Rate
  • Contact Us
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate

© Next Edition Business Development Limited