Nigerian Enamelware reduces quarterly loss as revenue surges
Nigerian Enamelware Plc has reported a significant reduction in its quarterly loss, driven by a sharp increase in revenue. The company’s unaudited financial statements show improvements in gross profit, despite rising costs and ongoing net equity challenges. Taiwo Alli and Olakunle Adeoye reaffirmed the board’s commitment to strong financial oversight. Several key financial metrics, including assets and share price, were highlighted in the latest report.
TLDR
- Loss before tax for the first quarter ended 31 July 2026 was N37.51m, down 53.4% from N80.52m in the corresponding period of 2025.
- Revenue rose nearly 397% to N231.72m from N46.61m in the comparative quarter of the prior year.
- Gross profit reached N30.09m, compared to a gross loss of N51.26m in Q1 2025.
- Distribution expenses increased to N67.60m from N29.26m in the previous period.
- Total assets expanded to N2.92bn as of 31 July 2026, up from N2.89bn at the end of its financial year on 30 April 2026.
