May & Baker Nigeria Plc disclosed its financial statement for the first quarter (Q1) period ended March 31, 2019.
Revenue declined significantly from 2.1 billion naira in 2018 to 1.8 billion naira in 2019, indicating a reduction of of 14.67 percent. Gross profit also fell from 725.8 million naira in Q1 2018 to 600 million naira in Q1 2019, representing a downturn of 17.24 percent
There was a cutback in profit before tax from 249.3 million naira in 2018 to 196.4 million naira in 2019. This also shows that it reduced by 21.28 percent.
In the report, profit after tax dropped from 162 million naira in 2018 to 133.5 million naira in 2019, representing a decrease of 17.90 percent. Earnings per share reduced from 16.54 kobo in 2018 to 7.74 kobo in 2019.