Roads Nigeria loses N227.8 million in 2015
Construction company, Roads Nigeria, has released its audited financial statements for the financial period ended 31st March 2015, showing a loss after tax of N227.8 million.
The loss represents a 266.3 percent decline from a profit after tax of N137 million recorded in 2014.
The company’s revenue dropped 42 percent to N1.9 billion from N3.3 billion posted in the corresponding period of 2014.
Other highlights of the result were a 259 percent decrease in pretax loss of N323.7 million from a pretax profit N203.4 million recorded in the previous year, while earnings per share decreased from N6.85 in 2014 to a loss per share of N11.39 in 2014.
Shareholders’ funds dropped 44 percent to N290.3 million from N517.9 million in 2014, while total assets declined 2 percent to N3.517 billion from N3.589 billion.
Roads Nigeria Plc is engaged in the business of construction of roads, bridges, airfields and dams, with share price of N6.60 per share.
