Adebayo Obajemu

Portland Paints & Products Nigeria Plc on Wednesday published its first quarter report for the period ended 31 March 2020.

In the unaudited financial statement, the firm reported a turnover of N390.39 million, down by 49.78% when compared to the turnover of N777.35 million in the first quarter of 2018.

The firm reported a loss of N47.39m for the first quarter of 2020 as against the profit of N66.39 million reported in Q1’19.

Earnings per share for the period under review is -6 kobo as against the EPS of 8 kobo achieved in Q1’19.

With reference to the share price of N2.23, the P.E ratio of Portland Paints is calculated as -37.33x with earnings yield of -2.68