Modupe Gbadeyanka
By Modupe Gbadeyanka
PZ Cussons, a fast moving consumer goods company in Nigeria, has declared a loss in profit for the third quarter ended February 28, 2017.
In its financial statements released to the Nigerian Stock Exchange (NSE), the company said its profit after tax depreciated to N1.601 billion from N1.647 billion, representing a fall by 2.8 percent.
However, its total turnover for the period under review surged to N57.149 billion in the period under review from N50.656 billion.
In the same vein, its cost of sales recorded an increase to N37.925 billion compared with N36.966 earlier recorded by the company.
Business Post correspondent reports that during the same period, PZ Cussons posted a profit before tax of N2.355 billion in contrast to N2.14 billion.
The company said in the period under review, it made a payment of N753.6 million as tax to the relevant agencies against N492.4 million it paid earlier.
