Arbico Plc Projects Q1 Revenue Earnings To Hit N1billion

Arbico Plc released its first-quarter revenue and earnings forecast report for the year 2022.

The construction giant, which was founded in 1958 and has numerous beautiful edifices to its credit, hopes to demonstrate solidity and financial ingenuity to its shareholders.

Some of the well-known edifices are the Coleman Factory Development, Oba Elegushi Residence, Park View Inn, Banana Island Residences, and several others.

According to the forecast report, which is available on the corporate disclosure section of the Nigerian stock exchange website (www.ngxgroup.com),

The company's revenue projection is N1.093 billion. The cost of sales projection is N656.47 million. Gross revenue will be N436.98 million.

Further details revealed that the finance income and other income are N1,674 million and N26,714 million respectively.

Other information includes N170,224 million in staff costs, N11,174 million in finance costs, and N220,452 million in other operating expenses.

Furthermore, the operating profit before tax is N63,522 million.

After deducting the income tax of N20,967 million, the company projects a net profit of N42,555 million for the first quarter.

This projection is hinged on financial returns, both cost, and revenue, coming in from previously executed projects and projects that will be delivered and fully paid for during this quarter.

It also includes mobilization revenue and other income fees that were taken into consideration when making these forecasts.