BricKlinks Africa, a telecommunication company, recorded revenue growth of 451.7 percent in the third quarter (Q3) of 2024, according to its financial report on the Nigerian Exchange (NGX).
From the inception of the year till September, the company saw its revenue surge to N124.7 million from N22.4 million in the corresponding quarter last year due to increased sales.
The telecommunication company’s profit after tax surged by 476.9 percent to N7.5 million in Q3 from N1.3 million in the comparable periods.
Further analysis showed the company’s cost of sales grew to N80 million in the period under review, a 502 percent increase from N13.3 million.
Their administrative expenses increased to N37 million in Q3 from N7.9 million in the same quarter last year.
The firm’s overhead cost increase was driven by the money it incurred when accounting for depreciation which rose to N14 million, followed by salaries and amartisation charges amounting to N5.3 million and N5.1 million, respectively.
Further breakdown revealed that assets, however, increased to N8.1 billion in the period under review from N772 million, while liabilities rose to N8.11 billion from N747 million in the comparable periods.
At the inception of the year, the company had cash of N10.8 million, a decrease from N28 million last year. However, there was cash movement of N26.9 million at the end of the quarter from N7.6 million in the same period last year, reducing this quarter’s cash flow to N37.7 million, a reduction from N20.7 million last year.
Briclinks Africa Plc commenced its business operations as a telecommunications/general contract company in July 2018 after it was issued an Internet Service Provider (ISP) license by the Nigerian Communications Commission (NCC).
It was listed on the NGX on February 5, 2021, with the ticker name “BAPLC”.
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