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Home Markets Equities Company Results

Increase in local sales drives Wamco Plc revenue to N150.6 billion in 9M 2020

Chidi Emenike by Chidi Emenike
November 6, 2020
in Company Results
FrieslandCampina WAMCO announced PBT of N18.75 billion, 15% up from 2018 , Increase in local sales drives Wamco Plc revenue to N150.6 billion in 9M 2020; up by 23.7%
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Wamco Plc has reported a revenue of N150.63 billion for 2020 9M (ended in September 2020) – a 23.7% increase driven by a rise in Local sales to N150.37 billion in 2020 9M.

This is according to its latest financials sent to the NASD OTC market.

READ: Fidelity Bank posts N20.41 billion profit in nine months

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Key highlights for 2020 9M

  • Revenue increased to N150.63 billion, +23.7% YoY.
  • Revenue from Local sales increased to N150.37 billion, +23.7% YoY.
  • Gross Profit increased to N31.09 billion, +8.8% YoY
  • Pre-tax profit increased to N11.49 billion, +1.51% YoY
  • Profit After Tax declined to N6.65 billion, -11.1% YoY
  • Earnings Per Share declined to N6.81, -11.1% YoY
  • Non-Current Assets largely dominated by property and plant increased to N37.5 billion, +6.4%

READ: R.T. Briscoe declares N618.9 million loss in H1 2020, as sales of vehicles fall 

Bottom Line

The increase in revenue is highly attributable to a 23.72% increase in local sales within the period under view, which was boosted by the expansion programme earlier embarked by the firm.

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