Livestock Feeds reports 2016 profit dips by 18%

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Livestock Feeds Plc in its financial report recorded NGN972.9 million as Gross Profit for fourth quarter 2016 compared to NGN891.6 million recorded in the financial year 2015.

The company recorded operating profit of NGN673.1 million in compared to NGN776.7 million recorded same period 2015.

The company posted NGN223.9 million as profit before taxation in 2016 compared to NGN300.1 million recorded in the financial year 2015. Meanwhile, after all expenses has being deducted, the Profit for the Year 2016 was NGN152.2 million in contrast to NGN187.9 million recorded in the fiscal year 2015., which represent 18% fall year on year comparison.

Livestock feeds recorded Total Assets of NGN7.3 billion in 2016 compared to NGN4.5 billion recorded same period in 2015. It recorded Total Liabilities of NGN5.1 billion in 2016 compared to NGN2.5 billion recorded in 2015.

Livestock Feeds Plc ended the year in review with revenue of 11.0 billion compared to 8.9 billion it recorded in 2016,meanwhile its Cost of Sale for 2016 was NGN10.0 billion against NGN8.0 billion recorded in 2015.

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