WATCH THE VIDEO HERE Cutix Plc, an electric cable manufacturer, has reported a pre-tax profit of N1.2 billion for the period ended 31st January 2025, up from N1.1 billion during the same period the previous year. This represents a 12.29% increase year-over-year, as outlined in its financial statements published on the Nigerian Exchange (NGX). The company also experienced a revenue increase of 40.43%, reaching N11.8 billion compared to N8.4 billion reported last year, with Cables and Wire Sales making up 77% of total revenue. Additionally, Cutix Plc’s total assets rose by 14.90% year-over-year to N8.1 billion, up from N7 billion the previous year, indicating an improvement in the company’s financial standing. Cutix Plc reported a revenue increase of 40.43%, reaching N11.8 billion compared to N8.4 billion the previous year. The company reduced its selling and distribution expenses to N134.1 million from N154.1 million last year, with a notable portion allocated to advertising and promotions, amounting to N72.9 million. Other income demonstrated significant growth, climbing by 182.37% year-over-year to N311.8 million, up from N110.4 million, with sales of scrap contributing a substantial N293.7 million. Ultimately, Cutix Plc’s pre-tax profit reached N1.2 billion, reflecting a 12.29% increase from N1.1 billion reported the previous year. As of 31st January 2025, Cutix Plc reported a year-over-year growth in total assets of 14.90%, reaching N8.1 billion compared to N7 billion the previous year.
Cutix achieves 12% rise in pre-tax profit amid surge in cable and wire sales
