Courteville Business Solutions Plc has reported a 98 percent decline in profit after tax of N4.8 million for the six months period ended 30th June 2016. This is in contrast to N210.5 million posted for the same period of 2015.
Also the ICT based company, recorded a 98 percent drop in profit before tax of N5.5 million from N250.6 million made in 2015.
Revenue of the company declined by 25 percent to N618.2 million compared to N822.2 million posted for the first half of 2015, while cost of sales grew by 21 percent to N372.5 million against N308.2 million posted for the corresponding period of 2015. Operating profit fell to N72.4 million compared to N320.1 million realised in 2015, representing a decline of 77 percent.
Earnings per share shares of the company dwindled to 26 kobo per share from N5.93. Courteville’s shares last traded on the Nigerian Stock Exchange at 50 kobo per share.
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