BY MICHAEL EBOH

Dangote Sugar Refinery Plc recorded significant improvement in its top and bottom line figures for the half year ended June 30, 2012, as it recorded a 90.99 per cent improvement in its after-tax profit.

Specifically, the company in the report presented to the Nigerian Stock Exchange, NSE, recorded a profit after tax of N5.728 billion, up from N2.999 billion recorded in similar period in 2011.

The company grew its turnover by 10.31 per cent to N53.608 billion compared to N48.597 billion in half year 2011. The turnover was eroded by cost of sales standing at 42.5 billion, up from N41.228 billion in similar period in 2011, and Administrative Expenses of N3.029 billion, down from N3.259 billion recorded in 2011.

Its gross profit stood at N11.109 billion, rising by 50.75 per cent from N7.369 billion in 2011, while it recorded profit before tax of 8.493 billion, up from N4.410 billion recorded in half year 2011.

However, Seven-Up Bottling Company Plc recorded a significant decline in its bottom line for the first quarter ended, June 30, 2012, as its profit after tax depreciated by 50.1 per cent.

The company recorded profit after tax of N713.869 million, down from N1.432 billion recorded in similar period in 2011.

Despite the decline in it after-tax profit, the company’s turnover grew by 3.1 per cent to N15.424 billion, from N14.963 billion recorded in 2011, while profit before tax dipped by 23.5 per cent to N933.044 million from N1.432 billion recorded in 2011.

Seven-Up incurred cost of sales of N9.817 billion, up from N9.605 recorded in 2011; selling and distribution expenses of N2.962 billion from N2.578 billion recorded in 2011; Administrative Expenses of N1.123 billion, up from N879.477 billion in 2011 and Net finance cost of N598.122 million, from N478.283 million recorded in similar period in 2011.

In his second quarter unaudited results for the period ended, June 30, 2012, presented to the NSE, Paints and Coatings Nigeria Plc recorded a 39.4 per cent improvement in its revenue.

Its revenue stood at N1.252 billion in the period under review, up from revenue of N898.408 million recorded in similar period in 2011.

The company recorded other income of N7.821 million, up by 22.9 per cent from N6.365 million recorded in 2011; gross profit of N473.152 million, rising by 38.6 per cent from N341.395 million in 2011; a pre-tax and after-tax profit of N130.055 million, both rising by 76.9 per cent each from N73.531 million in similar period in 2011.

Paints and Coatings Manufacturing Nigeria Plc recorded cost of sales of N779.051 million, up by 39.9 per cent from N557.013 million in 2011 and administrative expenses of N350.918 million compared to N274.230 million in 2011.

Meanwhile, Japaul Oil and Maritime Plc has recorded a profit after tax of N1.271 billion in its half year financial report for the period ended, June 30, 2012.

In the result presented to the NSE, the company’s after-tax profit rose by 22.9 per cent from N1.034 billion recorded in 2011.

Japaul’s turnover grew by 17.3 per cent from N5.162 billion recorded in half year 2011 to N6.055 billion in 2012. It recorded gross profit of N3.720 billion, rising by 22.7 per cent from N3.032 billion recorded in similar period in 2011; other income depreciated by 87.6 per cent to N10.081 million, from N81.062 million in 2011 and profit before tax of N1.495 billion, rising by 8.4 per cent from N1.379 billion in 2011.