PZ Cussons Nigeria Plc posted a loss after tax of N1.6 billion for its first quarter ended 31st August 2016, a decline of 470.6 percent from a profit after tax of N427.9 million in the same period of 2015.
A financial statement released by the family care products manufacturer showed that the quarter’s loss was preceded by a N4.7 billion loss in foreign exchange, a 31,507 percent fall from a gain of N15 million earned from foreign exchange in the prior year.
The group recorded a 12 per cent growth in revenue of N16.8 billion from N15 billion posted for Q1 2015/2016 and an operating profit of N2.2 billion, a growth of 254 percent from N624.4 million.
Net profit margin was down to 3 percent from 4 percent in 2016 and projected to fall to -9 percent by 2017 while shareholder earnings per share fell to 11 kobo from 16 kobo and projected to fall to a loss of 40 kobo by Q1 2017.
