CAP Plc reported revenues of N5.99 billion in 2020 – 3.63% increase compared to N5.78 billion in the corresponding period of 2019.
What you should know
The key highlights of its financial year 2020.
- Revenues increased by 3.63% from N5.77 billion to N5.99 billion YoY.
- Revenues from paint products increased to N6.05 billion, +3.69% YoY.
- Revenues from services increased to N33.90 million, +44.11% YoY.
- Cost of sales increased to N3.30 billion, +8.86% YoY.
- Gross profits decreased to N2.69 billion, -2.06 YoY.
- Operating profits decreased to N1.17 billion, -20.94% YoY.
- Pre-tax profits decreased to N1.36 billion, -24.50% YoY.
- Post-tax profits decreased to N927.50 million, -24.50% YoY.
- Earnings Per Share decreased to 133 kobo, -24% YoY.
- Total assets increased to N7.82 billion, +15.64% YoY.
- Total liabilities increased to N4.37 billion, +3.07% YoY.
- Total equity increased to N3.45 billion, +36.78% YoY.
CAP Plc recorded a boost in total revenue from an increase in its two revenue-generating units.
Though companies have generally recorded decreased revenues in the last three quarters, mostly due to COVID-19 – CAP Plc was able to increase its total revenues; however, pre-tax profits decreased.