Capital Hotels reports profit slump by 54% in Q2

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Capital hotels plc in its financial report for half year 2017 is reporting NGN182.0 million profit compared to NGN400.0 million reported same period 2016, which represents 54% fall year on year comparison.

The hotel ended the quarter with NGN2.4 billion revenue in contrast to NGN2.3 billion it ended 2016 with while costs of sales rose by 22% to NGN1.8 billion against NGN1.4 billion in the previous year.

Capital hotels recorded a decrease in gross profit to NGN667.0 million in contrast to NGN909.2 million in the.year before while result operating activities dropped to NGN268.1 million against NGN589.5 million in the previous year.

Total asset was NGN9.1 billion compared to NGN7.2 billion in the year 2016 while total liabilities was NGN3.7 billion against NGN2.8 billion in the year before.

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