Chemical and Allied Paint (CAP Plc) released its 2015 second quarter results posting a pre-tax profits of N558 million.
Key highlights
- Revenue dropped QoQ by 3% to N1.75 billion
- Operating expenses also rose 30% to N417 million hurting profit in the period under review
- Pre-tax profits subsequently dropped 22% to N558million (2015 Q1: N715m)
- On a year on year basis pre-tax profits of N558 million was 11% higher than the N504 million reported a year earlier.
- See excerpts of result below
| Chemical and Allied Products | |||
| CAP PLC | 2015 Q2 | 2015 Q1 | %age Change |
| N’m | N’m | ||
| Income Statement | |||
| Revenue | 1,750 | 1,808 | -3% |
| Cost of sales | (853) | (833) | 2% |
| Gross Profit | 897 | 975 | -8% |
| Operational Expenses | (417) | (320) | 30% |
| Operating Profit | 481 | 655 | -27% |
| Other Income | 12 | 16 | -26% |
| Net Finance Income | 65 | 44 | 50% |
| Profit Before Tax | 558 | 715 | -22% |
| Taxation | (175) | (229) | -24% |
| Other Comprehensive Income | – | – | #DIV/0! |
| Profit after Tax | 382 | 485 | -21% |
| Indices | |||
| Eps (Kobo) | 54.50 | 69.24 | -21% |
| Outstandng Shares | 700 | 700 | 0% |
| Gross Profit Margin | 51% | 54% | -5% |
| Operating Profit Margin | 27% | 36% | -24% |
| Profit Margin | 22% | 27% | -19% |
| SGA as a %age of Gross Profit | 46% | 33% | 42% |
Year on Year
| Chemical and Allied Products | |||
| CAP PLC | 2015 Q1 | 2014 Q2 | %age Change |
| N’m | N’m | ||
| Income Statement | |||
| Revenue | 1,750 | 1,602 | 9% |
| Cost of sales | (853) | (791) | 8% |
| Gross Profit | 897 | 812 | 11% |
| Operational Expenses | (417) | (362) | 15% |
| Operating Profit | 481 | 449 | 7% |
| Other Income | 12 | 12 | 0% |
| Net Finance Income | 65 | 42 | 54% |
| Profit Before Tax | 558 | 504 | 11% |
| Taxation | (175) | (162) | 8% |
| Other Comprehensive Income | – | – | #DIV/0! |
| Profit after Tax | 382 | 342 | 12% |
| Indices | |||
| Eps (Kobo) | 54.50 | 48.86 | 19% |
| Outstandng Shares | 700 | 700 | 0% |
| Gross Profit Margin | 51% | 51% | 1% |
| Operating Profit Margin | 27% | 28% | -2% |
| Profit Margin | 22% | 21% | 2% |
| SGA as a %age of Gross Profit | 46% | 45% | 4% |