Nigeria’s only publicly listed waste management company, The Initiates Plc. (TIP), has confirmed that Dvcf Oil & Gas Plc, a substantial shareholder in the company sold 649 units of its Holdings in the company at N0.70 per share.
The Initiates Plc. (TIP) is a professional Waste Management company located in Port Harcourt Nigeria, delivering Waste Management, Industrial Cleaning and Decontamination services to both Private and Public sectors.
A notice to the Nigerian Stock Exchange signed by Company Secretary, Olaide Odejobi, the transaction took place on July 27th, 2020.
Details of the transaction:
How’s Q2 2020 Profit and Revenue?
The company declared N14.10m Loss in its Q2 2020 Unaudited results for the period ended June 30th, 2020.
In terms of profit, the company’s profit before tax declined by -119.9% to N10.73m while Profit after tax also fell by -231.8% to N14.10m. Its net assets declined by -2.8% from N882m to N857.39m.
Also, revenue declined by -7.7% to N246.35m from N266.99m in the previous quarter.
