Aluminium Extrusion Industries Plc announced its results for the first half of 2019 showing an improvement of 13.44% from N1.348bn to N1.529bn recorded in the current period of 2019.
The company’s half year Profit after Tax declined by 34.19% from N49 million to N32 million in the corresponding period.
Earnings per share also dropped by 34% to stand at 15kobo away from the previous 22kobo of 2018.
At a price of N8.10, the company’s PE Ratio stood at 55.22x with an earnings yield below 2%.
Aluminium Extrusion Industries Plc is engaged in the manufacture and sale of a range of extruded aluminum profiles, billets and roofing sheets. The Company operates through two segments: Extruded Aluminium Profiles at Owerri and Suleja, and Aluminium Roofing sheets at Owerri. The Company’s facilities are located at Inyishi, outskirt of Owerri, in the Imo State of Nigeria and consist of extruded aluminum plant, billet casting plant, powder-coated plant, aluminum roofing sheet plant, product storage and other facilities, and at Suleja, Niger State the Company has a leased factory building and a powder-coating plant. The Company’s assets are located in Nigeria. The Company sells its finished products and by-products in the domestic market. Tower Aluminium (Nigeria) Plc is the parent company of the Company.