Lagos — Vitafoam Nigeria, which makes flexible PU foam in West Africa, recorded group sales of NGN 5.9bn ($16.3m) the third quarter of 2019. This is higher by 12% than the same period in 2018.
Gross Profit across the business fell 87% and hit NGN 215m .
Sales are almost exclusively within Nigeria. The company has a large number of subsidiaries in Nigeria, as well as two overseas, in Ghana and Sierra Leone. Overseas sales accounted for NGN 154m in the quarter.
Currency Exchange: XE.com
|Vitafoam Nigeria numbers Q2 2019 ( NGN m)|
|Source: Vitafoam Nigeria|
|2 July 2019 Currency conversion: XE.com USD 1=NGN 362|