Portland Paints & Products Nigeria Plc released its audited financial Statements for the year ended 31 December 2018. The firm grew turnover by 22.15% to close at N2.8 billion against the previous close of N2.3 billion in the previous year.
The Profit after Tax (PAT), grew by 255% to close at N206.6 million against the previous close of N58.1 million in 2017.
With about 800 million share outstanding, the Shareholders’ earnings per share grew by 255.33% to close at N0.26 from the previous EPS of N0.07 in 2017.
At a reference price of N2.52, it traded on the released date of the result, the PE Ratio of the firm was at is 9.69x with earnings yield of 10.34%.
The Management of a leading paints company with decades of experience in manufacturing, distributing and marketing a wide array of Decorative, Automotive and industrial Paints, Marine and Protective Coatings and Sanitaryware that support the building, construction and Oil and Gas industry in Nigeria recommends 5kobo per share as dividend, subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on Friday 3rd May 2019.