Purple Real Estate Income Plc (Purple Group) has announced its audited results for the full year ended December 31, 2022.
According to a statement, in the consolidated statement of profit or loss, Purple reported gross earnings of N20.4 billion for the full year ended December 31, 2022, having a significant increase of 385.4percent year-on-year from N4.2 billion in the corresponding period of 2021.
Net revenue which stood at N2.4 billion, represented 36.5 percent year-on-year over N1.8 billion in 2021.
Also, Purple recorded total other income of N14.5 billion, up by 853.8 per cent year-on-year over the full year 2021’s N1.5 billion.
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Besides, operating income was N16.9 billion, up by 411.6 percent year-on-year from N3.3 billion in 2021: “Total expenses of N2.2 billion, up by 22.5percent year-on-year to (FY 2021: N1.8 billion); profit before income tax of N14.7 billion, up by 873.5 percent year-on-year (FY 2021: N1.5 billion); profit after tax of N13.1 billion, up by 895.9 percent year-on-year (FY 2021: N1.3 billion),”the stat
In the consolidated statement of financial position, Purple’s book showed total assets of N45.8 billion. This translates to an increase of 73.5 percent year-on-year over the position of N26.4 billion in 2021. On the other hand, total liabilities stood at N23.1 billion, up by 32.5 percent year-on-year over the full year 2021’s N17.4 billion.
Shareholders’ funds of N22.8 billion, represented 152.9 per cent over N9 billion of the previous year.
Group completed its listing on NASD as Real Estate Company on 23 March 2023 with SDPURPLERE as the NASD Ticker.
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