The Initiates Plc reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was NGN 338.91 million compared to NGN 69.47 million a year ago. Net loss was NGN 40.95 million compared to NGN 20.46 million a year ago. Basic loss per share from continuing operations was NGN 0.05 compared to NGN 0.02 a year ago.
For the nine months, sales was NGN 842.73 million compared to NGN 178.25 million a year ago. Net income was NGN 25.22 million compared to net loss of NGN 94.58 million a year ago. Basic earnings per share from continuing operations was NGN 0.03 compared to basic loss per share from continuing operations of NGN 0.11 a year ago.