Sales accelerated to N82.1 billion from N62.9 billion following sharp rises in income from energy business Keywords/p
According to its recently issued financials, the two key performance metrics derived strength in the energy business of the conglomerate, whose other interests span hospitality, oil and gas, and agriculture.
Sales accelerated to N82.1 billion from N62.9 billion following sharp rises in income from energy sent out and capacity. The cash contributed by room service was also a pivot for revenue.
The stock has yielded 223 per cent since the turn of the year, profiting from the demand pressure that followed a brisk trade in its shares after its chairman Tony Elumelu racked up substantial shares in the corporation in April to outdo billionaire tycoon Femi Otedola in the race to become the top shareholder.
By PREMIUM TIMES' estimate, the Elumelu family now holds a 36 per cent stake in the firm.
Pre-tax profit stood at N18.5 billion, 38.6 per cent higher than one year earlier, while after-tax profit jumped to N16.1 billion from N12 billion.
That came from fair value gains on equity securities, helping push the total comprehensive income for the period to N18.3 billion, more than doubling the figure for half-year 2022.
"In spite of the challenging environment, our power businesses (
"We remain focused on efficiency, cost leadership, and meeting market demand to consistently deliver profitability and value to all our shareholders," she added.
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