Earnings Analysis 2013 H1: Japaul Plc Going From Bad To Worse

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Japaul Plc released its 2013 H1 results showing revenue rose 12% YoY to N6.8billion. Operating profit however dropped 28% to N1.1billion (2012 H1: N1.6billion) as cost of sales rose by 45% YoY. Pre-tax profits also dropped 72% to N420million (2012 H1: N1.5billion) as finance cost bit hard during the period.

Japaul H1 YoY

Japaul 2013 Q2

On QoQ comparisons Japaul faired worse in the period April to June 2013. Gross Profit dropped 20% this quarter compared to last as cost of sales rose. The drop in operating expenses was however not enough to keep up with rising debt cost driving the company to a pre-tax profit of N40million, a 90% drop!!

 

Japaul Plc released its 2013 H1 results in the website of the NSE