The Nigeria-based British conglomerate, A.G Leventis Nigeria PLC has announced a comeback profit of N876 million for the 2018 financial year-ending.
After three years of consecutive losses, this is coming as long awaited relief for the company’s share holders.
As disclosed in the Annual Report and Accounts of A.G Leventis published on the Nigeria Stock Exchange (NSE) website on 1st July, 2019, all major performance indices closed in the positive
The turnover increased marginally by 6.76% to N12.263 billion in 2018 from N11.488 billion recorded the year before.
The Profit Before Tax went up to N620.548 million as against the Loss Before Tax of N3.86 billion that recorded in 2017.
While Profit for the year summed up to N876 million in 2018, a dramatic turnaround from an outrageous loss of N3.477 billion A.G Leventis recorded in 2017.
However, the Board of Directors have decided that A.G Leventis Nigeria Plc will not pay dividend for the year.
Information also revealed that the Earnings Per Share of A.G Leventis’s stocks is now 33k on every unit held by shareholders compared to the Loss Per Share of N1.27 on each unit in 2017.
The financial report shows that A.G Leventis made a gain of 33k on every unit of its shares in 2018 while it made a loss of N1.27 on each unit of share in 2018.