Lagos, Nigeria – Vitafoam Nigeria, the West African flexible foam and furniture company, had total net sales of NGN 4.12bn ($10m) in the third quarter of 2020, down 15% on the same period last year.
Gross profit across the business fell by 14.2% and reached NGN 1.5bn in the quarter. The financial period ended on 30 June, and the results were published in a filing with the Nigerian Stock Exchange.
Although Vitafoam Nigeria has operations in a number of other African countries, 99.9% of its sales are recorded in Nigeria.
