NCR Nigeria Plc records N157 million pre-tax profit in 2020 FY

NCR Nigeria Plc (NCR) recorded a significant increase in its 2020 FY pre-tax profit, as total revenues declined.

NCR Nigeria Plc – an ICT solutions company – reported pre-tax profits of N156.83 million in 2020 FY as against N56.50 million pre-tax loss recorded in the same period of 2019.

Key highlights for 2020 FY

• Revenue declined to N5.13 billion, -15.53% YoY.
• Revenue from its financial service group declined to N3.14 billion, -19.78% YoY.
• Revenue generated from its world customer services declined to N1.99 billion, -7.82% YoY.
• Other operating income increased to N33.23 million, +110.9% YoY.
• Cost of sales declined to N4.71 billion, -9.27% YoY.
• Distribution expenses declined to N128.07 million, -73.7% YoY.
• Administrative expenses declined to N58.51 million, -66.37%YoY.
• No finance cost was recorded in the year.
• Pre-tax profits increased to N156 million.