Vitafoam Group Reports 10.72% Increase in Revenue in Q2

• Vitafoam Group Reports 10.72% Increase in Revenue in Q2

Vitaform Nigeria Plc reported 10.72 percent increase in revenue for the group in the second quarter of the year.

The group grew revenue from N5.28 billion in the same quarter of 2018 to N5.92 billion in the second quarter of 2019.

Gross profit rose by 20.54 percent to N2.15 billion in the quarter, up from N1.7 billion filed in the same quarter of 2018.

While operating profit grew from N593.083 million in Q2, 2018 to N740.989 million in Q2, 2019.

Profit before tax increased by 34.8 percent to N471.78 million during the quarter, up from N307.57 million recorded in Q2, 2018.

The group profit for the second quarter stood at N338.297 million, a 39.51 percent increase when compared with N204.609 million realised in the same period of 2018.

Earnings per share for the group rose by 37.30 percent to 31.31 kobo, below 34.60 kobo declared for the company.