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CUTIX Plc posts N1.83 billion revenue in Q2 2020, up by 57.8% Y-o-Y

CUTIX Plc posted growth in key financial metrics such as its revenue, PAT and PBT, amongst others.

Published

4 months ago

December 1, 2020

CUTIX Plc, a renowned manufacturer and supplier of house wire cables and other electrical appliances, posted an increased revenue of N1.83 billion for Q2 2020 , +57.8%.

This is according to the firm’s recent financials sent to the Nigerian Stock Exchange, and seen by Nairametrics.

Key highlights for the Q2 2020

Pre-tax profit leapt to N272.6 million, +277.52% Y-o-Y.
Profit After tax also increased to N177.19 million, +277.5% Y-o-Y.
Cost of sales increased to N1.35 billion, +57% Y-o-Y.
Gross profit increased to N479.34 million, +57% Y-o-Y.
Distribution costs declined to N37.5 million, -7.4% Y-o-Y.
Administration expenses declined to N143.91 million, -8% Y-o-Y.
Finance costs declined to N35.1million, -21.2% Y-o-Y.
Income tax expense increased to N95.4 million, +277.515 Y-o-Y.
Earnings per share massively gained 233.3% Y-o-Y, to finish at N10

Bottom line

The firm posted growth in key financial metrics such as its revenue, PAT and PBT, amongst others, which indicates that it was able to manage its costs and maximize profit.

Related Topics:Cutix Plc Nigerian Stock Exchange

Chidi Emenike

Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion

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Nairametrics

CUTIX Plc posts N1.83 billion revenue in Q2 2020, up by 57.8% Y-o-Y

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CUTIX Plc posts N1.83 billion revenue in Q2 2020, up by 57.8% Y-o-Y

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Company Results

Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Company Results

Conoil posts 23% post-tax profit decline in 2020 FY results

Nairametrics | Company Earnings