Ardova Boosted Revenue by 3.7% in Q3-2020 as Operating Expenses Increase

Must Read

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -
ARDOVA PLC Q3-2020 shows a 3.75% growth in revenue from N123.55 in 2019 to N 128.18 in the current period. This was majorly driven by increased sales across the fuels and lubricants segments of the business. However, cost of sales advanced by 3.31% to N119.23bn from the N115.41bn recorded in Q3-2019.

Higher Expenses Erode Operating Profit

Following a surge in the operating expenses notably in depreciation expenses and shrinkages losses, Operating profit declined by 30.15% to N2.91bn. In addition, finance income and finance cost waned by 95.19% and 131.86% respectively leading to a reduction in net finance cost by 78.19%.

Consequently, Profit before tax declined by 137.02% to N 2.4bn compared to the N6.54 generated in Q3-2019. Profit after tax also shrunk by 135.88% to N1.89bn while the EPS settled at N1.45 compared to the N4.03 recorded in Q3-2019.

Ardova Boosted Revenue by 3.7% in Q3-2020 as Operating Expenses Increase Brandspurng

- Advertisement -
Ardova Boosted Revenue by 3.7% in Q3-2020 as Operating Expenses Increase - Brand SpurArdova Boosted Revenue by 3.7% in Q3-2020 as Operating Expenses Increase - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ardova Boosted Revenue by 3.7% in Q3-2020 as Operating Expenses Increase - Brand SpurArdova Boosted Revenue by 3.7% in Q3-2020 as Operating Expenses Increase - Brand Spur

Latest News

How the documenta invented the “Zero Hour” in art after 1945

“documenta. Politics and Art” from 18 June 2021 to 9 January 2022

 

BERLIN, GERMANY - Newsaktuell - 1 March 2021 - The documenta owes its rise to the most successful German art exhibition not least to its political dimension: its disassociation from National Socialism and the bloc building of the Cold War. It was informed on the one hand by the supposed attempt to distance itself radically from Nazi cultural politics while at the same time refusing to deal openly with the Nazi past. On the other hand, its politically motivated orientation on the West included a decided aloofness toward and denigration of the socialist art of the "Eastern bloc".

Read Also:  Price of Cooking Gas, Diesel, kerosene increased in October - NBS

Ardova Boosted Revenue by 3.7% in Q3-2020 as Operating Expenses Increase - Brand Spur

Federal President Theodor Heuss at documenta 1, 1955 © documenta archiv / Photo: Erich Müller

With "documenta. Politics and Art" the Deutsches Historisches Museum takes up the example of the famous exhibition in Kassel to shed light on the manifold interactions between politics and art in the society of the Federal Republic after 1945. Parallel to this, the exhibition "'Divinely Gifted'. National Socialism's favoured artists in the Federal Republic" (27.8.21 -- 6.2.22) presents for the first time an examination of the post-war careers of so-called "divinely gifted" visual artists whom the Nazi authorities, from 1944 on, had deemed to be "indispensable" and were therefore exempt from front-line military service or other work for the war effort.


Raphael Gross, President of the Deutsches Historisches Museum: "With these exhibitions we want to bring to light a new perspective on the history of the Federal Republic in its international context. Both of them correct the notion of a radical aesthetic new beginning, which has often been attributed to the documenta and of which the early documenta framers made extensive use. There were, in fact, unbroken lines leading back to National Socialism. Works by murdered Jewish artists found no room in the early editions of the documenta. And in our exhibition on the previously almost unresearched 'Divinely Gifted', we are showing, conversely, the degree to which this group of visual artists who had been active in the Nazi cultural sector dominated the public space after 1945 and continue to dominate it to this day."

Long Version: https://www.dhm.de/en/press/press-release/how-the-documenta-invented-the-zero-hour-in-art-after-1945/


Ardova Boosted Revenue by 3.7% in Q3-2020 as Operating Expenses Increase - Brand Spur
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Ardova Boosted Revenue by 3.7% in Q3-2020 as Operating Expenses Increase - Brand SpurArdova Boosted Revenue by 3.7% in Q3-2020 as Operating Expenses Increase - Brand Spur