Real estate company Haldane McCall PLC has reported a full-year 2024 pre-tax profit of N1.01 billion in its financial report released on the Nigerian Exchange (NGX) on February 13th, 2025.
This figure represents a 168.44% increase from the pre-tax profit of N377.8 million reported for the fiscal year 2023, amid a notable rise in revenue.
For fiscal year 2024, Haldane McCall Plc’s revenue soared to N3.6 billion, reflecting a 109.50% increase from N1.7 billion in the previous year, majorly driven by land and building sales, which accounted for 73.4% at N2.6 billion.
Additionally, total assets increased by 22.82% year-over-year, rising from N17.9 billion in the previous year to N21.9 billion in fiscal year 2024.
Haldane McCall Plc reported a revenue of N3.6 billion for the fiscal year 2024, representing a 109.50% increase compared to N1.7 billion in 2023.
On the downside, the cost of sales increased by 93.84% year-over-year, reaching N1.5 billion, up from N816.7 million in the previous year.
Despite generating N20.8 million from other operating income, with ‘other income’ comprising nearly the entirety of this amount, the rise in administrative expenses was notable. These expenses climbed by 95.92% year-over-year to N1 billion, up from N544.1 million in 2023.
Operating profit increased by 168.44% year-over-year to N1 billion, compared to N377.8 million in the previous year.
In Fiscal Year 2024, the company experienced a notable increase in total assets, which rose by 22.82% to reach N21.9 billion, compared to N17.9 billion in 2023.
On the liabilities side, total liabilities increased to N5.3 billion from N3.9 billion.