Chemical and Allied Products Plc reports 112% post-tax profit increase for period ended December 2022

Key Highlights

• The Company reports its profit after tax to be 112% higher compared to last year

Chemical and Allied Products Plc has released its audited results for the period ended December 31st, 2022 reporting a profit after tax of N2.4 billion.

This represents a 112% increase from the N1.1 billion which the company reported during the same period in 2021.

Key details of the audited financial report are summarized below

Revenue

• December 2022: N19.2 billion
• December 2021: N14.2 billion
• Change: +35%

Gross profit

• December 2022: N7.6 billion
• December 2021: N4.5 billion
• Change: +67%

Total operating profit

• December 2022: N3.1 billion
• December 2021: N1.4 billion
• Change: +109%

Pre-tax profit

• December 2022: N3.4 billion
• December 2021: N1.7 billion
• Change: +99%

Net Profit after tax

• December 2022: N2.4 billion
• December 2021: N1.1 billion
• Change: +112%