×
  • Business - Companies
  • Updated: February 03, 2022

Ronchess Global Resources Plc Declares N15.082 Billion Revenue

Ronchess Global Resources Plc Declares N15.082 Billion Reven

Ronchess Global Resources Plc recently released its unaudited Full Year (FY) 2021 results ended December 31, 2021, revealing outstanding bottom-line growth, with Revenue growing to as much as N15.082 billion.

The company which is into the entire value chain of traffic management, construction, real estate delivery, airport solution, and general procurement has indeed not only delivered positive returns to management and staff but to also shareholders.

A copy of the unaudited financial statement for the full year ending December 31, 2021, was sent to the management of the Nigerian stock exchange as it is customarily done. This copy for investigation purposes can be unearthed at the corporate disclosure page of www.ngxgroup.com website.  

Key Insight of the Report:

  • An examination of the report revealed that the company specializes in the delivery of traffic management, road construction, real estate development both in Nigeria and the USA, and general procurement.
  • Road construction contributed exactly 99.93% of its N15,082 billion generated for the year ended December 31, 2021 with land marking making up just less than 1% by exactly N9,471 million alone.
  • The cost of materials and site maintenance made up 98.57% of the cost of sales which was N7.55 billion. Specially, they were N5,170 billion and N 2,271 billion while freight and logistics made up the remaining with N68.44 million and N39 million respectively.
  • The report revealed that income from other investments generated exactly N142.3 million, while gains from forex generated in the fourth quarter ’21 got whipped off at the year-end.
  • Administrative and other operational expenses summed up at N3.38 billion with salaries and wages taking up 65.95% of the entire expenses with N2.23 billion.
  • Taxable for the year ended N110.82 million,
  • The company remains very liquid as it showed a cash and cash equivalent status of N1 billion.
  • Trade and other receivables ended up at N13.36 billion with staff loans and trade receivables amounting to N5.3 million and N14.14 billion respectively.
  • The report went further to state that prepayment for the company was at N34,103 million.
  • The bank loans and soft loan which was used in executing most of the projects were are N826.4 million with the bank alone taking up 71.1% of the entire bill with N587.5 million.
  • The gross profit was N7.532 billion with the Q4 adding N652.8 million alone.
  • Finally, the focus on cost and proper management of exchange rate volatility made it possible for the company to post a much better PAT profit after tax of N4.186 billion.

Related Topics

Join our Telegram platform to get news update Join Now

0 Comment(s)

See this post in...

Notice

We have selected third parties to use cookies for technical purposes as specified in the Cookie Policy. Use the “Accept All” button to consent or “Customize” button to set your cookie tracking settings