The Initiates Plc reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was NGN 373.25 million compared to NGN 282.37 million a year ago. Net income was NGN 55.37 million compared to NGN 29.44 million a year ago. Basic earnings per share from continuing operations was NGN 0.06 compared to NGN 0.03 a year ago.
For the six months, sales was NGN 570.15 million compared to NGN 498.77 million a year ago. Net income was NGN 59.07 million compared to NGN 74.24 million a year ago. Basic earnings per share from continuing operations was NGN 0.07 compared to NGN 0.08 a year ago.