First Aluminium registers NGN165.4 million profit in FY2016
Nigeria-based company First Aluminium, involved in manufacturing aluminium coils and sheets, collapsible aluminium tubes and other aluminium products, registered profit for the financial year 2016.
First Aluminium’s turnover stands at NGN 9.1 billion in 2016 as compared to NGN10.4 billion in the last financial year. The cost of sales were NGN9.7 billion in the last year against NGN8.1 billion registered in 2016
In 2016, the company’s profit before taxation stands at NGN271.6 million and after taxation stands at NGN165.4 million compared to NGN43.1 million and NGN112.5 million respectively in 2015.
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First Aluminium’s gross profit registered NGN1.0 billion and operating profit registered NGN851.5 million vs NGN726.9 million and NGN450.3 million respectively in the year 2015.
First Aluminium Nigeria Plc purchased NGN9.3 billion total assets in 2016 compared to NGN8.2 billion in its last year while total liabilities are at NGN4.3 billion compared to NGN3.4 billion last year.
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