The Initiates Plc reports a loss of N39.3 million in Q1 2021.

The Initiates Plc released its unaudited results for the first quarter of the year (Q1, 2021).

• Revenue for the period was N54.45 million. (-66.3% YoY)
• Cost of sales was N50.3 million. (-54.5% YoY)
• Administrative expenses totalled N15.8 million. (-25.8% YoY)
• A loss after tax of N39.26 million was incurred. (-610.04% YoY)
• Loss per share of -0.05 kobo was incurred.
• Gross profit margin for the period was 7.59%.

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