By Ify Onye InvestAdvocate

Lagos (INVESTADVOCATE)-Paints & Coatings Manufacturers Plc listed on the Chemical and Paints Sector of the Nigerian Stock Exchange (NSE) Wednesday declared a 74.6 percent (74.6%) decline in Turnover in its Third Quarter (Q3) Report for the period ended September 30 2011.

This was contained in the result announcement of the Company to the Nigeria’s Exchange and obtained by www.investadvocateng.com in Lagos Nigeria.

To record the 74.6% decline in Turnover, Paints & Coatings in the review period recorded a Turnover of N1.297 billion in Q3 of 2011 compared to N5.100 billion in the same period of year 2010.

Profit After Tax (PAT) also dipped from N466.183 million in the Q3 of year 2010 compared to N401.696 million in the Q3 of year 2011; showing a dip of 13.8% in the review period.

While Profit Before Tax (PBT) also dropped from N642.183 million in the Q3 of 2010 compared to N573.852 million in the same period of year 2011; representing a drop of 10.6%.

Also, Fidson Healthcare Plc operating on the Healthcare Sector of the NSE for its Third Quarter 15 months Report for the period ended September 30 2011 declared a PAT of 73.4%. The Company’s Profit After Tax in the Q3 of 2010 was N48.060 million compared to N83.355 million in the same period of year 2011.

PBT also grew by 66.7% as Fidson recorded N83.355 million in the Third Quarter of year 2011 compared to N49.998 million in the period under review.

While its Turnover increased from N977.596 million in the Q3 of year 2010 compared to N6.133 billion in the same period of year 2011; representing an increase of 527.4%.

In the same vein, Lasaco Assurance Plc, operating on the Insurance Sector recorded a PAT of 114.1% in its Third Quarter Report for the period ended September 30 2011. PAT for the review period increased from N164.576 million in the Q3 of 2010 compared to N352.295 million in the Q3 of year 2011.

PBT also grew by 146.3% as the Company declared N469.527 million in the review period compared to N190.661 million in the Third Quarter of year 2010.

While Gross Premium also increased from N1.734 billion in the Q3 of 2010 compared to N2.344 billion in the Q3 of 2011; showing an increase of 35.2%.

Also, Scoa Nigeria Plc recorded a PAT of 38.9% as it declared N54.023 million in the Q3 of year 2011 compared to N38.884 million in the corresponding period of year 2010.

PBT increased by the same margin as Scoa Nigeria declared N77.175 million in the Q3 of 2011 compared with N55.548 million in the same period of year 2010 indicating a 38.9% increase.

While Turnover was N1.666 billion in the Third Quarter of 2010 compared to N1.673 billion in the review period showing a slight increase of 0.4%.