WorldStage Newsonline– CUTIX Plc, a major cable manufacturing company has generated a revenue growth for the first four months of the year to N15.8 billion from January to April, a 30 per cent increase when compared to the N12.28 billion generated during the same period in 2024.
The company in a corporate filing with the Nigerian Exchange Ltd. on Monday experienced a slight dip in profitability.
Profit after tax decreased by 3 per cent from N1.06 billion to N1.03 billion, while profit before tax saw a one per cent decline, moving from N1.62 billion to N1.60 billion.
On a positive note, CUTIX Plc’s total assets demonstrated healthy expansion, growing by 19 per cent from N7.29 billion to N8.7 billion.
However, earnings per share (EPS) saw a notable 52 per cent decrease, falling from 30.24 kobo to 14.65 kobo.
In a move to reward shareholders, the company’s directors are recommending a dividend of 10 kobo per share.
If approved by shareholders at the upcoming Annual General Meeting, the total dividend payout will amount to N704,528,810.40, representing a 33.33 per cent increase from the N528,396,607 paid out last year.
