Aluminium Extrusion Industries Nigeria reports 43% drop in profit
Aluminium Extrusion Industries plc Nigeria has reported results for second quarter 2017. The company’s net profit has declined 43% to NGN34.1 million against NGN60.1 million, reported during the same period of FY2016. Aluminium Extrusion Industries Plc is Nigeria-based company that manufactures extruded aluminium products. The company is located in Imo State, Nigeria.
The company revenue for the quarter remains flat YoY at NGN1.4 billion and the costs of sales too stands flat at NGN1.2 billion YoY.
Aluminium Extrusion Industries’ gross profit for Q2 2017 dropped to NGN183.9 million compared to NGN199.3 recorded in the same period of financial year 2016.
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Total assets worth for the company for the period stood at NGN2.3 billion compared to NGN2.2 billion for the same period 2016 while total liabilities stood at NGN554.9 million against NGN491.1 million for the second quarter 2016.
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