Lagos, 31st October 2021 – Notore Chemical Industries Plc reports group results for fourth quarter ended 30th September 2021.
During the fourth quarter ended 30th September 2021 (Q4 2021 FY), the group recorded revenues of ₦17.47 billion (₦18.79 billion for Q4 2020 FY) representing 85% growth over the last three quarters because of the post-TAM stabilisation and optimization, resulting in an operating loss of ₦3.49 billion for the quarter (Q4 2020 FY operating profit was ₦9.48 billion). Year-To-Date Loss before tax stood at ₦20.19billion (Q4 2020 FY was a Net Loss of ₦13.92 billion) due to finance cost of ₦16.69 billion.
Lagos, 31st July 2021 – Notore announce post-TAM group revenue of N9.43 billion for third quarter ended 30th June 2021.
During the third quarter ended 30th June 2021 (Q3 2021 FY), Notore recorded group revenues of ₦9.43 billion (₦17.42 billion for Q3 2020 FY) due largely to the Turnaround Maintenance Programme (TAM) on the fertilizer plant, the closure of which extended into the quarter. This was worsened by the delays experienced in the post-TAM operations recommencement activities. Consequently, resulting in an operating loss of ₦3.30 billion in Q3 2021 FY (Q3 2020 FY operating profit was ₦3.87 billion), which was further depressed by finance cost of ₦12.54 billion, resulting in a Net Loss of ₦15.84 billion for the period (Q3 2020 FY was a Net Loss of ₦8.09 billion).
NOTICE IS HEREBY GIVEN that the Seventh Annual General Meeting of Notore Chemical Industries Plc. (the “Company”), will hold at the Oduduwa Hall, Southern Sun Hotel, 47, Alfred Rewane Road (formerly Kingsway Road), Ikoyi, Lagos State, on Friday, 25th June, 2021 at 11.00am prompt, to transact the following business: