Livestock Feed Plc reports Q4 pre-tax profit of N681.8 million amid revenue surge, other income 

This figure represents a year-over-year recovery of 445.37% compared to the same quarter in 2023, resulting in a total pre-tax profit of N2.7 billion for the fiscal year 2024, a significant improvement from the pre-tax loss of N126.7 million recorded in fiscal year 2023.

In terms of revenue, the company reported a 114.99% increase for Q4 2024, amounting to N13 billion, compared to N6 billion for the corresponding period in the previous year.

For the entire fiscal year, total revenue grew by 104.17%, from N20.4 billion in fiscal year 2023 to N41.6 billion in fiscal year 2024.

Additionally, Livestock Feed Plc’s ‘other operating income’ for Q4 rose to N393.9 million, up from N24.9 million last year. For the entire fiscal year, this totaled N452.8 million, marking a 514.54% increase.

A cursory look at the company’s earnings report reveals notable growth in revenue and income from its core operations.

For the full year 2024, revenue increased by 104.17% year-over-year, reaching N41.6 billion, up from N20.4 billion the previous year.

However, the cost of sales rose significantly by 84.02%, reaching N35.2 billion, largely driven by changes in inventories.

Administrative expenses also surged by 170.46% to N1.8 billion, with salaries and management fees being significant contributors.

Ultimately, Livestock Feeds managed to recover from a pre-tax loss of N126.7 million in FY 2023, achieving a pre-tax profit of N2.7 billion in 2024.

In 2024, the company’s total assets surged to N23.1 billion, marking a substantial jump from N13.3 billion in 2023.

Non-current assets increased to N2 billion, primarily fueled by a significant rise in property, plant, and equipment, which totaled N1.7 billion.

Current assets also experienced impressive growth, reaching N21 billion, largely driven by a considerable uptick in inventories and cash reserves.