Nigerian Enamelware Plc has released its audited statement of financial position for the year ended April 30, 2024, recording Loss Before Tax (LBT) of N2.56 billion as against Profit Before Tax (PBT) of N2.57 billion in the preceding year, representing a decline of 200 percent.
The company which is listed on the consumer goods sector, under the household durables subsector of the Nigerian Exchange Limited (NGX) has shares outstanding of 76,032,000 units valued at N1.467 billion.
In the review period, the company’s shareholder fund printed negatively at N744.25 million compared to positive shareholders fund N1.83 billion in 2023, a decline of about 141 percent. Its basic Loss Per Share (LPS) of 3,414 kobo as against Earnings Per Share (EPS) of 2, 218 kobo in 2023, which represents a 254 percent decline.
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This result came despite the fact that Nigerian Enamelware grew its revenue to N718.35 million from N227.3 million, up by 216 percent.
Nigerian Enamelware PLC engages in the manufacturing, marketing, and sales of enamelware products in Nigeria. It is a subsidiary of Feng Company Limited, a company domiciled in Hong Kong, China. The latter holds 60 percent of the Nigerian Enamelware’s equity.
The company currently trades at N19.3 per share, nearing its 52-week high of N19.5 as against a 52-week low of N17.55.
