Vitafoam reports N4.597bn as profit in 12 months, declares N1.50 as dividend

Vitafoam Nigeria Plc has published its Audited Financial Statement for the 12 months ended 30 September 2021.

The Board recommended a dividend of N1.50 to shareholders, amounting to N1.876 billion for declaration at the next Annual General Meeting. The dividend recommended, when approved, is subject to withholding tax at the appropriate rate.

A turnover of N35.4 billion was reported for the 12 months period, up by 51.02% from N23.4 billion reported the previous year.

Profit after tax grew year on year by 11.92% to N4.597 billion from N4.108 billion reported the previous year.

Earnings per share (EPS) of the company stands at N3.68, up by 11.92% from the EPS of N3.28 reported the previous year.

At the share price of N22.5, the P.E ratio of Vitafoam stands at 6.12x with earnings yield of 16.33%.

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