Aluminium Extrusion Industries Ltd released its 2012 Results with revenues remaining nearly flat at N1.72billion.Operating profit at the end of the period was N102million as cost of sales sliced 88% of revenue. The company’s profit after tax at the end of the period was N45million representing a profit margin of just 3%. It is important to note that the company gained an additional revenue of N353million from sale of fixed assets taking its total comprehensive income to N310million after adjusting for deferred tax.
Overall the result is poor in my view.
