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Leading companies in the Nigerian Exchange (NGX) Limited seemed to have beaten the impact of the Covid-19 pandemic, posting significant upticks in both top-line and bottom-line figures. The companies, numbering 83, posted 11.45 percent and 32.4 percent rise in their revenue and pre-tax profits respectively. The bottom-lines also show the corporates outperformed the high inflation rate (15.75%) prevailing during the financial year, which has since galloped to 18.3 percent as at last month, with likelihood of further rises in April and months ahead. Nigeria, alongside other countries in the world, went into recession last year following the effects of the restrictions to movement and economic activities implemented across the country in early second quarter (Q2) of the year in response to the COVID-19 pandemic. ....
Employees work on the trading floor at the Nigerian Stock Exchange (NSE) in Lagos, Nigeria, on Monday, Oct. 26, 2015. Nigeria plans to create a $25 billion fund with public and private financing to modernize infrastructure and avoid a recession, Vice President Yemi Osinbajo said. Photographer: George Osodi/Bloomberg via Getty Images lPre-tax profit up 32.4% lOil & gas, transport/aviation, real estate worst hit By Nkiruka Nnorom Leading companies in the Nigerian Exchange (NGX) Limited seemed to have beaten the impact of the Covid-19 pandemic, posting significant upticks in both top-line and bottom-line figures. The companies, numbering 83, posted 11.45 percent and 32.4 percent rise in their revenue and pre-tax profits respectively. ....