Vitafoam Nigeria plc has recorded 150 percent growth in its profit after tax (PAT) in its unaudited quarter 2 result, ended March 31st 2019. The PAT of the company listed in the consumer goods sector advanced from N309.7 million of Q2 2018 to N774.7 million recorded in the current period under review.
The manufacturer and seller of flexible and reconstituted foam products’ 2019 Q2 financial reports that was made public, on Monday, 29th of April, 2019 revealed 20.79 percent growth in Gross Earnings’ figures of N10.7 billion garnered in the corresponding period the previous year to N12.9 billion recorded in the current period under review
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The earnings per share also appreciated by 150.10 percent from previous year’s N0.25 to current year’s N0.62
The current period’s PE Ratio is at 6.28 and the earnings yield at 15.92%.
Vitafoam has a different reporting time from the majority of listed companies in the NSE, and that is why its last audited financial statements ended in September 31st, 2018 while most other stocks ended December 31st, 2018.
Consequently, the first and second quarter results were made up in different times to about three months different from other stocks