Jaimal Yogis and Vivian Truong s next two City Of Dragons middle-grade graphic novels, The Journey East and Underworld to follow the first and second, are
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Vitafoam net asset per share hits N7.25
On
By Peter Egwuatu
Vitafoam Nigeria Plc net asset per share is now N7.25 following its improved 2020 financial performance released to the investing public recently.
This is about 54.3 per cent above the N4.70 recorded in 2019.
The company has attributed the performance despite the inclement operating environment, to innovation and expansion.
It announced 5.2 per cent increase in total sales, 8.1 per cent drop in cost of sales while the 11.4 per cent reduction in finance was a reward for internal cost efficiency.
Specifically, Profit After Tax rose by 72 per cent to N4.11 billion from N2.39 billion and the basic earnings per share increased to N3.05 from N1.82.
By Itohan Abara-Laserian (08152358494)
Lagos, Jan. 15, 2021 Vitafoam Nigeria Plc has attributed its turnover increase of 5.2 per cent from N22.28 billion in 2019 to N23.44 billion in 2020 among other impressive performances to innovation and expansion.
Mr Taiwo Adeniyi, Group Managing Director and Chief Executive Officer, Vitafoam, made the disclosure this in a statement made available to newsmen on Friday in Lagos.
Adeniyi said that the company’s investment in its subsidiaries as a growth strategy was beginning to pay off as the growth in total sales was up by 5.2 per cent.
“As a matter of corporate policy, we do continuous improvement on our products. We sell high margin products.