The Initiates Plc reports a net loss of N94.6 million in 9M 2021.

The Initiates Plc released its unaudited financial results for the nine months period ended 30th of September, 2021.

• Revenue for the period was N178.25 million. (-51.4% YoY)
• Cost of sales for the period was N151.2 million. (-38.2% YoY)
• Administrative expenses totalled N65.04 million. (+16% YoY)
• Total assets during the period stood at N1.69 billion. (+49.8% YoY)
• Loss after tax was N94.6 million.
• Loss per share of 0.11 kobo Vs 0.01 kobo YoY.
• Return on assets of 0.11% Vs 0.32% YoY.

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