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Vitafoam posts N4.52bn as profit in 12 months

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Vitafoam proposes N1.56 dividend to shareholders

Vitafoam Nigeria Plc on Thursday published its Audited Financial Statement for the year ended 30 September 2022.

The Group reported a turnover of N46.3 billion for the 12 months period, up by 30.80% from N35.4 billion reported the previous year.

Profit after tax of N4.522 billion was reported for the year, down by 1.63% from N4.597 billion reported the previous year.

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Earnings per share of Vitafoam stands at N3.62, down by 1.63% from the EPS of N3.68 achieved the previous year.

At the share price of N21.95, the P/E ratio of Vitafoam Nigeria Plc stands at 6.07x with earnings yield of 16.47%.

The Board recommended a dividend of N1,901,283,053 representing N1.52 per share to shareholders for declaration at the next Annual General Meeting. The dividend recommended, when approved, is subject to withholding tax at the appropriate rate.

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