2014 Q1: Lower Operating Expense Help CCNN Pos Higher YoY Pre-Tax Profits

CCNN released its 2014 Q1 results showing a 2.7% drop in revenue to N4.8billion (2013 Q1 N5billion). Gross profit also dropped 8% to N1.7billion. Pre-tax profit for the period was N1billion 85% higher than the N598million posted a year earlier. This was largely a result of the a 47% drop in operating expenses this year compared to the last.