Notore reports N6.4bn loss in 2020

By Kayode Tokede

Notore Chemical Industries Plc, a subsidiary of Notore Chemical Industries [Mauritius] Limited has released its annual report and financial statements for the year ended September 30, 2020 with an increase in loss for the year to N6.4 billion from N5.75 billion loss in 2019.

The company is into manufacturing, treat, process, produce, supply and deal in nitrogenous fertilizer and all substances suited to improving the fertility of soil and water.

The annual report and financial statements released at the Nigerian Stock Exchange showed that revenue from contracts with customers dropped to N18.799 billion from N21.419 billion in 2019.

The Company has a 500,000 metric tonne Urea Plant in Onne, Rivers State, Nigeria.