Lagos, Nigeria — VitaFoam Nigeria, an African flexible foamer and furniture maker, had total sales of NGN 12.94trn ($36m) in first half of 2019, up 20.8% on the first half of the previous financial year.
Gross profit across the business rose 26.4%, and reached NGN 3.78trn in the first half of 2019. This compares with a total of NGN 2.99trn in the equivalent half of 2018.
According to data filed with the Nigerian Stock Exchange, more than 99.9% of the company's sales are made in Nigeria.'
Currency conversion: XE.com
| Vitafoam Nigeria H1 2019 (NGN trn) | |||
|---|---|---|---|
| Group | H1 2019 | H1 2018 | Change % |
| Sales | 12.94 | 10.71 | 20.8 |
| Gross Profit | 3.78 | 2.99 | 26.4 |
| Margin % | 29.2 | 27.9 | |
| Source: Vitafoam Nigeria | |||
