Vitafoam Nigeria Plc has declared total dividend payout of N125 million for the financial year ended Septembber 30, 2016. The amount translated to N0.12 kobo per every share held by investors. The company’s statement of account submitted at the NSE showed that the revenue for the year dropped from N16.853 million to N13.589 million while gross profit went down to N4.661 million from N5.100 million recorded the previous.
Year. The analysis of the company performance indicated that the profit before tax trend down ward to N61.198 million from N213.097 million achieved in the corresponding period.Total assets which stood at N12.849 billion in the corresponding period grew to N13.345 billion while total liabilities rose from N9.536 billion to N9.837 billion. The Company within the period under review posted loss of N32.032 million against loss of N71.981 million in the preceding year.
