P
ProfRem
Guest
ABC transport, one of Nigeria's most versatile and indigenous transport line may become a casualty of Nigeria’s harsh economic realities, losing N118.751 million in the first quarter of 2016.
The first quarters of its 2016 reports obtained by TheCable, indicates that the group’s loss before taxation stood at N106.3 million as against a profit of N39.3 million reported just 12 months ago.
A source privy to the operations of the company told TheCable that the business is struggling to cope with the prevailing business environment in Nigeria.
“ABC didn’t perform too well in the last few months, just like the rest of the economy. We are struggling to keep our head above the water, assured that this phase would pass,” he said.
Read Financial Statement on NSE
The first quarters of its 2016 reports obtained by TheCable, indicates that the group’s loss before taxation stood at N106.3 million as against a profit of N39.3 million reported just 12 months ago.
A source privy to the operations of the company told TheCable that the business is struggling to cope with the prevailing business environment in Nigeria.
“ABC didn’t perform too well in the last few months, just like the rest of the economy. We are struggling to keep our head above the water, assured that this phase would pass,” he said.
Read Financial Statement on NSE
