Honeywell Group released its 2014 Full year results showing an 18% growth in Earnings Per share of 42kobo compared to 36kobo the year before. The result is a remarkable improvement from the 5% growth it recorded in the prior year. Revenue also rose 20.5% to N55billion compared to the N45.7billion posted a year earlier. Adjusted operating profit also rose 45% YoY to N5.1billion indicating a strong organic growth.
Finance cost rose to N1.9billion this period as the company’s debt continued to pile up. Their current debt of N37billion pushed its debt equity ratio to 1.8x a sign that a renewed capital raising drive might be in the offing to either refinance the loans with debts or equity.
