For a company struggling to reduce the hemorrhaging of revenues over the last couple of years, this is not one of those stocks we would consider recommending. However, there is an investment case for buying it and we will be revealing why.
At the end of 2019, the company reported a loss after tax of about N7.9 billion one of its worst since we started tracking it over 5 years ago. This year has not been any different worsened by the Covid-19 pandemic. The company in the first half of the year reported a loss before tax of N567 million. Most of the losses came in the second quarter of the year when the rampaging pandemic forced an economic shutdown in Lagos State, Abuja, and most cities across the country.
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