EcoCorp on 2014 result -filing default list

The much awaited audited financial result of Eco Corp Plc for the period ended 31 December, 2017, has finally been delivered, just as the company faces more expectations to attain a new status devoid of Minimum Regulatory Filling (MRF) by the Nigerian Stock Exchange.

However, as at the close of trade on the floor of the Exchange last Friday, 11th August, 2017, the company’s name, EcoCorp Plc, appeared prominently as number two among the four listed companies yet to file their 2014 audited financial statement with the bourse.

The company, currently, has the challenge of releasing audited financial statements for year 2015, 2016 and Q1 and, Q2 periodic unaudited results for 2017.

Turnover closed the 2014 financial year at N1, 303,585,802b from N1, 215,217,291b indicating 2.27 per cent rise.
Total profit (loss) after tax closed the year at N156, 708,608m against N152, 766,156m reflecting 2.58 per cent growth.

The company’s total assets closed the 2014 financial year of the company at N2, 249,300,454b, which was against N2, 187,151,206b, in the preceding 2013 year, indicating growth in total assets by 7.16 per cent.

Meanwhile, as at the close of trade last week, Ekocorp Plc featured on the X-Compliance report of the NSE as it was tagged MRF for non-rendition of audited financial statements 2014, for Non-Rendition of Audited Financial
Statements ended December 2015 and also for unauthorized Publication Q3 account ended September, 2016.

The company also was tagged MRF by the NSE for failure to render first Quarter Interim report ended March, 2016.

Bonny Amadi