Nigerian Enamelware Plc has released its unaudited financial statements for the first quarter ended 31st July 2025, showing a sharp downturn in earnings compared to the same period last year.
🔹 Revenue: ₦46.61 million (Q1 2024: ₦600.12 million)
🔹 Profit/Loss Before Tax: ₦(80.52) million loss (Q1 2024: ₦107.89 million profit)
🔹 Profit/Loss After Tax: ₦(80.52) million loss (Q1 2024: ₦107.89 million profit)
🔹 Earnings Per Share (EPS): -106 kobo (Q1 2024: 142 kobo)
The company attributed the performance drop to weaker sales and rising costs.
On the balance sheet side:
Total Assets: ₦2.60 billion (July 2025)
Shareholders’ Funds: ₦(728.77) million, weighed down by accumulated losses.
Cash & Bank Balance: ₦238.04 million
Nigerian Enamelware Plc, a long-standing player in the manufacturing of enamelware, plastics, and galvanized products, continues to face industry-wide headwinds from high input costs and foreign exchange pressures.
The directors affirmed compliance with regulatory requirements under Section 60(2) of the Investment and Securities Act (ISA) 2007, confirming adequate internal controls and transparency in disclosures.
At the close of the reporting period, the company’s stock traded at ₦27.00 per share on the NGX, compared to ₦19.30 at the same time last year.
