Thomas Wyatt reports wider loss margin in Q3’18 financials
Thomas Wyatt Nigeria Plc has released its financial scorecard for the nine months (9M) period ended December 31, 2018 which shows dismal performance across top-to-bottom line figures.
The company’s unaudited financial statements for the review nine months period show its revenue declined from a high of N77.35million in 9M’2017 to N45.29million in 9M’2018.
Thomas Wyatt Nigeria Plc is the pioneer manufacturer of school and office stationery and large scale printers which hitherto was done in the United Kingdom and imported into the country.
Further look at the results at the Nigerian Stock Exchange (NSE) revealed Thomas Wyatt Nigeria Plc recorded gross loss of N4.85million in 9M’2018 as against gross profit of N23.14million in 9M’2017.
The company’s loss before taxation (LBT) widened to N36.32million in 9M’2018 from loss before taxation of N5.8million in 9M’2017.
Loss After Taxation (LAT) at N36.65million in 9M’2018 shows significant increase from LAT of N6.2million in 9M’2017.
A look at the company’s per 50kobo share data shows it recorded 17kobo loss per share as against 3kobo loss per share in 9M’17.
The initial business of Thomas Wyatt Nigeria Plc was limited to the manufacturing of schools exercise books.
Currently, the company’s policy of steady expansion of the product lines and manufacturing capacity has been given meaning in its product range which peaked at over 250 stationery items marked under the well-known APEX MILL trade mark.
The company products include exercise books, ruled papers, duplicated books; spiral and quarter bound books, photocopying and typing papers and full complement of envelopes. The company also prints calendars, diaries and so on.