CAP posts N456m PAT in Q1 2020
by Teliat Sule On Apr 26, 2020
Chemicals and Allied Products
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Chemicals and Allied Products (CAP) last week announced its unaudited first quarter results for the period ended March 30, 2020 with the turnover and profit after tax (PAT) heading different directions. Quarterly growth of 9.08 percent in turnover which rose to N2.31 billion from N2.12 billion in corresponding period in 2019 was offset by a 8.55 fall in PAT. The profit after tax for the period was N456.3 million compared with N498.9 million in similar period in 2019.
In the past five years when CAP recorded a decline in Q1 PAT, Nigeria’s real GDP growth rate ended in the negative. That happened in the first quarter of 2016 when CAP’s Q1 PAT fell by 13.21 percent and in that quarter, the country’s real GDP growth was -0.67 percent. Also, in the first quarter of 2017, CAP’s PAT fell by 7.39 percent while Nigeria’s real GDP growth rate for that quarter was -0.91 percent.
Source:https://businessday.ng/companies/article/cap-posts-n456m-pat-in-q1-2020/
by Teliat Sule On Apr 26, 2020
Chemicals and Allied Products
Share
Chemicals and Allied Products (CAP) last week announced its unaudited first quarter results for the period ended March 30, 2020 with the turnover and profit after tax (PAT) heading different directions. Quarterly growth of 9.08 percent in turnover which rose to N2.31 billion from N2.12 billion in corresponding period in 2019 was offset by a 8.55 fall in PAT. The profit after tax for the period was N456.3 million compared with N498.9 million in similar period in 2019.
In the past five years when CAP recorded a decline in Q1 PAT, Nigeria’s real GDP growth rate ended in the negative. That happened in the first quarter of 2016 when CAP’s Q1 PAT fell by 13.21 percent and in that quarter, the country’s real GDP growth was -0.67 percent. Also, in the first quarter of 2017, CAP’s PAT fell by 7.39 percent while Nigeria’s real GDP growth rate for that quarter was -0.91 percent.
Source:https://businessday.ng/companies/article/cap-posts-n456m-pat-in-q1-2020/
