Global Spectrum Energy Services Plc post 77% post-tax decline in 2020 FY results

Global Spectrum Energy Services Plc released its 2020 FY results reporting a revenue of N2.23 billion representing a 9.42% drop from the N2.46 billion revenue reported a year earlier.

• Operating expenses during the year was N326.88 million in 2019 compared to N295.68 million in 2019. +10.55% YoY
• The company reported a profit after tax of N195.58 million in 2020 compared to N75.10 million in 2019. –76.66% YoY.
• No dividend announcement was made in their press release.
• The company share price of N4.19, unchanged YTD.

See link to results.