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Home Business News

Livestock Feeds Plc records 362% increase in 2020 FY pre-tax profits

Adeyemi Adebayo by Adeyemi Adebayo
January 27, 2021
in Business News
Livestock Feeds: How this company survived over half a century producing animal feed
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Livestock Feeds Plc recorded a major boost in its 2020 FY pre-tax profits, as total revenue also recorded a 12.3% increase.

Livestock Feeds Plc – a company that manufactures animal feeds, reported pre-tax profits of N520.77 million in 2020 FY compared to N112.63 million reported in 2019 – a 362.37% increase.

Key highlights for 2020 FY

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  • Revenues increased to N11.18 billion, +12.30% YoY.
  • Revenues from Aba increased to N2.0 billion, +24.45% YoY.
  • Revenues from Ikeja increased to N5.78 billion, +11.98% YoY.
  • Revenues from Onitsha increased to N1.15 billion, +77.37% YoY.
  • Revenues from the North declined to N2.26 billion, -11.27% YoY.
  • Other operating income increased to N86.38 million, +283.66% YoY.
  • Cost of sales also increased to N9.92 billion, +8.67% YoY.
  • Selling and distribution expenses increased to N316.13 million, +9.84%YoY.
  • Finance costs increased to N140.09 million, +35.61% YoY.
  • Pre-tax profits increased to N520.77million, +362.37% YoY.
  • Earnings Per Share increased to 11.80k, +232.39% YoY.

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Tags: Livestock Feeds Plc
Adeyemi Adebayo

Adeyemi Adebayo

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

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