PZ's Profit Drops by 55% in 2012 Financial Year

 

This was contained in the company’s result, published by the Nigerian Stock Exchange (NSE) on Tuesday in Lagos.

The report showed that the company’s profit after tax during the period under review dropped to N2.54 billion, down from N5.69 billion in 2011.

Its profit before tax also dropped by 46 per cent to N4.31 billion, compared with the N8.03 billion that the company recorded in the same period of 2011.

Meanwhile, the company’s turnover increased by 9.5 per cent to N72.16 billion, up from the N65.88 billion it posted in the previous year.

The report indicated that the company’s net assets depreciated to N42.87 billion from the N43.17 billionit recorded in 2011.

Similarly, its fixed assets declined to N24.36 billion from the N25.04 billion it posted in the comparative period of 2011.

According to reports, the company did not declare any dividend for its shareholders although it paid 86k dividend in 2011.