EVANS MEDICAL POSTS N401.1M LOSS

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By Oriade Ayomide

Evans-Medical

A recent posting on the website of the Nigerian Stock Exchange shows that Evans Medical Plc posted a loss after tax of N401.1m for the nine-month period ended September 30, 2013. The company’s loss after tax rose by N340.5m from the N60.6m loss it declared for the third quarter of 2012 to N401.1m in the same period of 2013.

According to the results, the company also recorded a drop in revenue as it dropped from N3.479bn in 2012 to N3.135bn in 2013; showing a drop of N344m. The company also witnessed a significant rise in its loss before tax as this also shot up by N60.6m from N340.5m to N401.1m.

While the company’s result for the fourth quarter of 2013 has yet to be released, both the second and third quarters showed losses before and after tax. In the second quarter of 2013, Evans Medical declared a loss after tax of N136.5m, while its revenue stood at N2.430bn.

The company’s loss before tax for the first half of 2013 stood at N136.5m, reflecting a 34.52 per cent decline from the N395.3m loss before tax it declared for the six-month period ended June 30, 2012.

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