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Morison Industries Plc records 34.32% increase in 2020 9M revenues

Morison Industries Plc recorded a boost in two of its revenue-generating units, as total revenues increased.

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Morison Industries Plc records 34.32% increase in 2020 9M revenues

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.

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 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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