Chemical and Allied Products Plc (CAP) Plc has released its unaudited Consolidated Financial Statements for the full year ended December 31st, 2024, to the Nigerian Exchange Group (NGX).
The company’s balance sheet remained resilient with total assets growing by 27 per cent to N19.58bn in in 2024 from N15.37bn in FY 2023.
According to the financial report seen by the company reported N36.4bn revenue, 52 per cent higher than N23.89bn posted in full year 2023.
Operating profit was 64 per cent higher at N5.3bn compared to N 3.25bn reported in 2023 while Gross profit was 64 per cent higher than FY 2023, at N14.8bn from N9.01bn in 2023.
The company recorded Profit before tax of N5.9bn, up 57 per cent from N3.8bn posted in FY 2023.
Commenting on the results, Managing Director, Bolarin Okunowo, stated: “We are delighted to announce our performance for Q4 2024, reflecting the resilience of our business model and our ability to thrive in a challenging operating environment. Revenue, operating profit, and profit before tax increased by 48 per cent, 57 per cent, and 40 per cent, respectively.
These strong results were achieved because of the trust and commitment shown by our customers, trade partners and employees. As we look ahead to 2025, we remain focused on elevating the experiences of our customers and exceeding the expectations of all our stakeholders.”
