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May & Baker Nigeria Plc records 8.85% revenue increase in 2020 9M

May & Baker Nigeria Plc recorded a boost in one of its revenue-generating units, as total revenues increased.

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May & Baker's margins improve despite revenue contraction, May & Baker Nigeria Plc records 8.85% increase in 2020 9M revenues.

May & Baker Nigeria Plc – a pharmaceutical company, reported revenues of N6.44 billion in 2020 9M compared to N5.92 billion in the same period of 2019 – 8.85% increase.

Key highlights for 2020 9M

  • Revenues increased to N6.44 billion, +8.85% YoY.
  • Revenues from beverage declined to N47.3 million, -16.72% YoY.
  • Revenues from pharmaceuticals increased to N6.39 billion, +9.10% YoY.
  • Finance cost declined to N131.16 million, -25.44% YoY.
  • Distribution selling and marketing expenses increased to N938.61 million,+23.93% YoY.
  • Pre-tax profits increased to N1.00 billion, +43.95% YoY.
  • Earnings Per Share increased to N39.52 Kobo, +43.97% YoY.

(READ MORE:Guinness Nigeria Plc: Increase in Nigeria sales boosts revenues)

Bottom Line

May & Baker Nigeria Plc recorded a boost in one of its revenue-generating units, as total revenues increased.

Revenues from its pharmaceutical unit increased considering the recent rise in revenues of pharmaceutical companies due to COVID-19. May & Baker Nigeria Plc’s profits also increased despite rising expenses, partly aided by declined finance cost.

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

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Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

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Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

  • Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
  • The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
  • It reported a loss per share of N1.11  in 2020 compared to N0.26 loss per share reported in 2019.
  • No dividend announcement was made in their press release.
  • The company share price of N0.30 unchanged YTD.

See link to results here

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Conoil posts 23% post-tax profit decline in 2020 FY results

Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

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Conoil Plc released its 2021 FY results reporting revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.  

  • Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. 20.9% YoY 
  • The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.  
  • It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. 22.89% YoY. 
  •  No dividend announcement was made in their press release. 
  • The company share price of N20.85, up +0.72% YTD. 

See link to results here

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