Earnings Watch: Ikeja Hotel Plc Profit Slumps Over September Period
Ikeja Hotel Plc has released its third period results to the floor of the Nigerian Stock Exchange. The hospitality business leader reported a 10% nisedive in revenue, pegged at N 5 Billion for the period as opposed to N 5.6 Billion over the third period in 2010.
Profit before Tax fell 27% to N 1.18 Billion, from N 1.62 Billion over the same period last year.
Net Income was also hit by the same percentage as PBT, as the company declared N 826 Million as opposed to N 1.1 Billion after the same period last year.
The company’s stock price is trading at N 2.51, up 33% from the onset of the year.
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