John Holt Nigeria Plc reported consolidated earnings res for the year ended December 31, 2015. The company has posted operating profit of NGN 1.63 billion despite the devaluation of the naira in 2015, and foreign currency restrictions imposed on some items the Central Bank of Nigeria. For the year ended September 30, 2015, the operating profit however, reduced by 18.50% from NGN 2 billion in the previous year.

Sales were down by 13.87% to NGN 2.42 billion in 2015, as the company embarks on aggressive expansion with a view to consolidating its share of the market. The company and its subsidiaries made a loss before tax of NGN 171 million compared to profit before tax of NGN 427 million last year, NGN 528 million was exchange for loss suffered as a result of the devaluation of Naira. It attributed the fall in revenue to the crash in crude oil price, which negatively affected revenue from oil and gas clients.

Sales were also negatively affected by the tension and uncertainty associated with the 2015 general elections and the subsequent lull in the economy after the elections.