WATCH THE VIDEO HERE SCOA Nigeria Plc has reported a pre-tax profit of N374.3 million for the year ended 31 December 2024, according to its latest audited financial statement on the NGX. This represents a substantial increase of 149.82% compared to the N149.8 million reported the previous year, driven by increased revenue. Total revenue for the year reached N13.5 billion, a 30.21% increase from N10.3 billion in the prior year. However, the cost of sales rose sharply to N12.3 billion, marking a 35.14% increase from N9.1 billion the previous year. Hence, the group reported a gross profit of N1.1 billion, down 5.36% from N1.2 billion recorded in 2023. Additionally, SCOA significantly lowered finance costs from N110.7 million to just N4 million in 2024. As of the trading day on 8th April 2025, SCOA is priced at N4.47, with a year-to-date performance of 116.99%. In 2024, the stock recorded a year-to-date performance of 4.04%.
SCOA Nigeria reports 149.8% surge in 2024 profit, achieves N13.5 billion revenue as auto and equipment sales thrive
