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

Key highlights for 2020 9M

Other News

  • 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.