By Yakubu LAAH investadvocate

Oct 18 2010 15.20 GMT

Lagos(INVESTADVOCATE)-Studio Press Plc operating in the Packaging sector of the Nigerian Stock Exchange (NSE) today Monday October 18 2010 announced 278.4 percent (278.4%) in Profit for the year 2007 Results made available at the Stock Exchange in Lagos Nigeria.

 

To record this result, the packaging company’s Profit After Tax (PAT) was a negative (N212.835 million) in year 2006 compared to the N379.635 recorded in the Audited Year Ended December 2007; indicating a PAT of 278.4%.

 

While Profit Before Tax (PBT) increased slightly from N31.371 million in year 2006 to N33.970 million in year 2007 indicating an increase of 8.3% in the review period.

 

The company recorded a Turnover of N4.812 billion in the Audited Year Ended December 2007 compared to N2.966 billion in the period under review showing an increase of 62.2%.

 

However, in the Corporate Actions of the company, no proposed dividend was reported and no Annual General Meeting (AGM) date announced.