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e-Tranzact’s profit increases by 81% in 6 months

03 August 2012, 16:48

Lagos - eTranzact Plc says it recorded 81 per cent growth in its profit after tax for the half year ended June 30, 2012.

The News Agency of Nigeria reports that the profit is contained in the company’s result published on Friday by the Nigerian Stock Exchange (NSE) in Lagos.

The company said it posted a profit after tax of N101.23 million as against N55.78 million posted in the comparative period of 2011.

The publication said that the company’s profit before tax grew by 81.5 per cent to N148.85 million from N82.02 million declared in 2011.

Also, the company’s turnover rose to N1.57 billion as against N898.49 million declared in 2011.

The company’s net assets, during the period under review, appreciated to N2.61 billion against N2.51 billion recorded in 2011.

The company posted a turnover of N2.24 billion for the financial year ended Dec. 31, 2011 against N917.82 million posted in 2010.

Its profit before tax stood at N126.04 million compared with a loss before tax of N200.23 million declared in 2010.

Also, the company’s profit after tax rose to N81.29 million against a loss after tax of N138.30 million recorded in 2010.


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