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) | |||
|---|---|---|---|
| Group | 2019 | 2018 | Change % |
| Sales | 5916 | 5282 | 12% |
| Gross Profit | 215 | 1709 | -87% |
| Margin % | 3.634212306 | 32.3551685 | 0 |
| USD | |||
| Sales | 16.34 | 14.59 | 12% |
| Gross Profit | 0.59 | 4.72 | -87% |
| Source: Vitafoam Nigeria | |||
| 2 July 2019 Currency conversion: XE.com USD 1=NGN 362 | |||
