Companies
Updated: December 29, 2022

Q3 2022: Vitafoam Records N4.52 Billion Profit

By Felicia Abisola Olamiji
December 29, 2022
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For the third quarter of 2022, Vitafoam Nigeria Plc has reported a profit after tax of N4.52 billion, which is 1.6% lesser than the amount the company reported during the same period last year.

For the half-year 2022, the company reported, a revenue of N46.31 billion, a 31 per cent increase when compared to the N35.40 billion recorded in the half-year 2021.

The company also recorded a 13 per cent increase in gross profit in H1 2022, as it reports N15.39 billion, compared to N13.68 billion in H1 2021.

The company's cost of sales also grew by 42 per cent in the half year of 2022 when compared to the cost of sales recorded in the corresponding period of the previous year, as it records N30.91 billion and N30.91 billion, respectively.