BOC Gases Grows Profit by 35.26 Percent in 2020

BOC Gases Nigeria Plc, an industrial gas company, grew revenue by 3.30 percent from N30.069 billion in 2019 to N3.171 billion in 2020.

In the company’s audited financial statement, results from operating activities expanded by 81.59 percent to N392.357 million in 2020, up from N216.062 million in 2019.

BOC Gases Financial Highlights

• Revenue grew by 3.3% to N3.171 billion in 2020 from N3.069 billion in 2019.
• Results from operating activities stood at N392.357 million, representing 81.59 percent from N216.062 million.
• Profit before income tax rose by 28.91 percent from N321.538 million in 2019 to N414.502 million in 2020.
• Income tax expense rose by 15.94 percent to N122.395 million in 2020 from N105.571 million in 2019.
• Profit for the year stood at N292.107 million in 2020, a 35.26 percent increase from N215.967 million.
• Total comprehensive income for the year rose by 35.46 percent to N292.543 million, up from N215.967.
• Declared dividend during the year expanded by 25 percent to N124.873 million.
• Share capital stood at N208.122 million, same as 2019.
• Total equity grew by 6.18 percent to N2.879 billion from N2.712 billion.