NINE MONTHS RESULTS: Rough trip for Tripple Gee PLC.

Nine months to June 2016 Tripple  Gee PLC did not quite bargain for what it ended the period with. It turned to be a trip through time that turned rough because of dollar scarcity.

According to the figures for the period sent to the stock exchange, the company's turnover dropped by 29.3% to N101.5m principally because it could muster enough dollars to import needed goods.

On the other hand, some of the threat from this fizzled as cost of sale at a faster rate ( 48.8% to N41.2m) leading to only 14.2% decrease in gross profit to N60.3m.

However, distribution and administration expenses refused to follow suit as it decreased only marginally by 2.95% to N52.5m and finance charges went down by 9.95% to N8.6m.

Hence, by the end of the nine months  Tripple Gee reported 90.1% dive in profit before tax to N0.66m from far more comfortable
N6.6m nine months into 2015 year.

The directors are hopeful though that the last quarter of the year will be more memorable since foreign exchange is likely to be more readily available at the new inter bank market.

TRIPPLE GEE PLC: Nm
                   Nine months
                    2016.     2015
Turnover    101.5.     143.6
Cost of sale 41.2.       73.3
Gross profit  60.3.       70.3
Overhead.     52.5.       54.1
Finance costs 8.6.       9.55
Profit.              0.65.     4.62

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