Meyer Plc declares loss of N24.99 million in Q1’20 report

Adebayo Obajemu

Meyer Plc in its published report for the period ended 31 March 2020 declared a loss of N24.99 million for the first three months of the year.

The paint manufacturing company reported a turnover of N264.4 million, down by 19.30% when compared to the turnover of N327.6 million in the first quarter of 2019.

A loss of N24.99 million was declared by the firm at the end of Q1 2020. In the first quarter of 2019, the Meyer Plc declared a loss N292,000. Comparing both financial period, the firm has incurred more loss this year than the previous year.