BOC: Assets advance 15% in Q2 to N4.1b
Investment opportunities may have opened for many discerning investors in BOC gases as its recently released 2017 second quarter results has revived expectations of better future earnings by the company.
The company’s condensed statement of financial position released by the Nigerian Stock Exchange (NSE) on Tuesday, showed that total assets, which also represents total assets and liabilities increased for six months, covering January to June 30 2017 closed the Q2 at N4, 101,782.
This was however, against the total assets of the company as at 31 December 2016, which stood at N3, 630,953b, reflecting a 15 per cent growth.
The growth in assets of the company showed increased opportunities to take increasing business opportunities that would guaranteed increased earnings for the company and reward to shareholders.
Total equity during the period closed at N2, 300,816, while in the second quarter 2016 which stood at N2, 172,701b.
Boc Gases total liabilities closed the second quarter 2017 at N1,800,966, while in the corresponding period of 2016, total liabilities stood at N1,458,252, reflecting about 0.25 per cent increase.
Gross profit recorded by the company for the third quarter alone, reflecting April to June closed lower at N265, 920 million, while for the six months period from January to June , the company recorded N532,902m gross profit.
Meanwhile, the company’s condensed statement of comprehensive income showed that from April to June, 2016, the total gross profit stood at N185, 753m, which for the period of six months covering January to June 2016, stood at N377, 832m. Gross profit recorded by the company for the financial year ended December 31, 2016, was N850, 004m.
Revenue recorded by the company in the second quarter (April-June) 2017, stood at N606, 205m, this rose to N1, 207,497 in the half year ended 30 June, 2017. The second quarter 2016 (April-June) the company posted N456, 803m revenue, while N926, 607 million was penned as total revenue for the first six months period of 2016.
The company’s revenue in the 2016 financial year stood at N1, 083,769.00b a feat the company is positioned to surpass in the 2017 financial year having already in the second quarter scored N1,207,497b in the first half 2017.
Bonny Amadi
