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Results - Int. Breweries, Okitipupa and Cutix Plc


September 02 , 2008


International Breweries today released its un-audited results for the half year ended 30th June, 2008. Turnover jumped by 114.67% to N501 million, PBT also increased by 170.15% to N56.53 million, while PAT also increased by 170.15% to N56.53 million, from loss of N80.59million in the corresponding period of 2007.


Okitipupa Oil released its audited results for the year ended 31st December, 2007. Turnover grew by 15.22% to N214.3 billion, however, PBT  and PAT decreased by 11.19% and 29.87% to N12.7 million and N12.7 million respectively.


In addition, Cutix today released its audited result for the financial year ended 30th April, 2008. Turnover grew by 22.64% to N1.3 billion, PBT inched up by 4.24% to N195.5 million, however, PAT declined by 5.92% to N114.48 million, from N121.69 million in the corresponding period of 2007. With this result, the company’s EPS is estimated to be 21 kobo while PE ratio is estimated to be 52x. The stock however, closed on full offer, causing the share price to lose full 1%.

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