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NCR Nigeria Plc records N157 million pre-tax profit in 2020 FY

NCR Nigeria Plc (NCR) recorded a significant increase in its 2020 FY pre-tax profits, as total revenue declined.

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NCR Nigeria Plc (NCR) recorded a significant increase in its 2020 FY pre-tax profit, as total revenues declined.

NCR Nigeria Plc – an ICT solutions company – reported pre-tax profits of N156.83 million in 2020 FY as against N56.50 million pre-tax loss recorded in the same period of 2019.

Key highlights for 2020 FY

  • Revenue declined to N5.13 billion, -15.53% YoY.
  • Revenue from its financial service group declined to N3.14 billion, -19.78% YoY.
  • Revenue generated from its world customer services declined to N1.99 billion, -7.82% YoY.
  • Other operating income increased to N33.23 million, +110.9% YoY.
  • Cost of sales declined to N4.71 billion, -9.27% YoY.
  • Distribution expenses declined to N128.07 million, -73.7% YoY.
  • Administrative expenses declined to N58.51 million, -66.37%YoY.
  • No finance cost was recorded in the year.
  • Pre-tax profits increased to N156 million.

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

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Company Results

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

Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

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Focus: This small-cap oil company is seriously lagging behind

Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

  • Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
  • The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
  • It reported a loss per share of N1.11  in 2020 compared to N0.26 loss per share reported in 2019.
  • No dividend announcement was made in their press release.
  • The company share price of N0.30 unchanged YTD.

See link to results here

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Company Results

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

Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

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Conoil Plc released its 2021 FY results reporting revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.  

  • Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. 20.9% YoY 
  • The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.  
  • It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. 22.89% YoY. 
  •  No dividend announcement was made in their press release. 
  • The company share price of N20.85, up +0.72% YTD. 

See link to results here

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