Morison Industries Plc – medical equipment and consumables supplies company, reported revenues of N98.23 million in 2020 9M compared to N73.13 million in the same period in 2019 – 34.32% increase.
Key highlights for 2020 9M
- Revenues increased to N98.23 million, +34.32% YoY.
- Revenues from Pharmaceuticals declined to N5.11 million, -58.88% YoY.
- Revenues from LMP-consumers increased to N83.69 million, +40.34% YoY.
- Revenues from Others/contracts increased to N9.43 million, +787.11% YoY.
- Other operating income increased to N25.97 million, +188.82% YoY.
- Operating expenses increased to N89.59 million, +3.59% YoY.
- Distribution expenses increased to N16.80 million, +5.04% YoY.
- Pre-tax loss decreased to N46.51 million, -42.10% YoY.
- Loss Per Share decreased to 0.05 Kobo, -37.50% YoY.
Bottom Line
Morison Industries Plc recorded a boost in two of its revenue-generating units, as total revenues increased. Revenues from its LMP – Consumers and Others/Contracts revenue-generating units increased in the period under consideration.
Morison Industries Plc’s losses also decreased, despite rising expenses. This was partly aided by the rise in other operating income.
