Ardova announces 5% growth in revenue to N200.6 billion

By Philemon Adedeji

Ardova PLC on Wednesday announced 5 per cent increase in revenue for the full year unaudited result as at December 31, 2021.

The group reported growth of total assets which appreciated with huge 87 per cent from N64.8 billion in the corresponding period of 2020 to N121.03 billion as at December 31,2021.

From the data released by Nigerian exchange limited (NGX) reveals profit after tax which appreciated by 23 per cent from N1.33 billion in twelve months of 2020 to N1.65 billion as at December 31, 2021.

The gross profit reported also improved significantly by with huge per cent 25, from N12.13 billion as at end of 2020 financial year to N15.18 billion as at December 31, 2021.

However, the result of profit before income tax recorded, reveals declination of 67 per cent from N2.90 billion in the corresponding period of 2020 to N947.7 million in the previous period of 2021.

Again, earnings per share recorded shows depreciation of 13 per cent from N1.44 in twelve months of 2020 to N1.26 as at twelve months of 2021.