John Holt Plc records 23.3% growth in profit YoY

John Holt has recorded a 23.3% growth in Profit After Tax Year-on-Year, from N152 million in Q4 2019 to N188 million in Q4 2020.

Key highlights in Q4 2020 are:

• Revenue increased to N630 million, up by +121.9% YoY.
• Profit After Tax increased to N188million, up by +23.3% YoY.
• Pre-tax profit increased to N194 million, up by +23.6% YoY.
• Gross profit increased to N174 million, up by +255.5%.
• Earnings Per share increased to N48.3 million, up by +23.3% YoY.
• Distribution expenses decreased to N75 million, down by -32.4% YoY.
• Finance cost decreased to N42 million, down by -124.3% YoY.
• Administrative expenses decreased to N139 million, down by -86% YoY.
• Other operating income declined to N28 million, down by -39.1% YoY.

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Bottom Line

The increase recorded in the firm’s profit for the period under review might be attributable to a lot of factors such as:

An increase in revenue by 121.9% YoY: This increase is due to a growth in sales of technical products and leasing services recorded over time.

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

Reduction in cost: The firm was efficiently able to manage its costs, and reduce distribution expenses, finance costs, etc.