Cutix PLC, a number one producer of electrical cables, has launched its outcomes for the monetary 12 months ended April 30, 2025, posting a revenue earlier than tax of N1.609 billion.
Whereas it represents a marginal 1% decline from the N1.619 billion achieved within the earlier 12 months, the revenue stays strong, pushed by sturdy income progress.
Income for the 12 months surged by 30% to N15.7 billion, up from N12.177 billion within the earlier 12 months.
The majority of this got here from the gross sales of cables and wires, which generated N11.8 billion, whereas armoured cables contributed N3.8 billion, with different product traces accounting for the rest.
Nevertheless, this income progress got here with a pointy rise in price of gross sales, which jumped 38.39% to N12.5 billion, compressing gross revenue progress to only 3.63%, at N3.2 billion.
Administrative bills additionally climbed considerably, rising to N1.4 billion from N1.07 billion a 12 months earlier.
Finance prices continued to mount, reaching N440.2 million, up from N342.2 million, pushed by curiosity funds on time period loans, industrial papers, and overdrafts. Regardless of these pressures, Cutix nonetheless managed to carry pre-tax revenue regular at N1.609 billion.
On the stability sheet facet, whole belongings rose to N8.6 billion, reflecting a 19.25% year-on-year progress. Nevertheless, retained earnings noticed a steep drop of 64.27%, settling at N730.2 million.
As of market shut on July 25, 2025, shares of the corporate have been priced at N4.10, reflecting a year-to-date achieve of 78.3%.
Ifeoma Nwahiri, Chairman, Board of Administrators, disclosed on the firm’s forty second Annual Common Assembly on Saturday in Nnewi, Anambra state.
“We’re actively working to make sure a big enchancment in profitability within the subsequent monetary 12 months.
“The rise in income signifies rising demand and deeper market penetration, whereas our ongoing concentrate on strategic investments is designed to boost future profitability,” she stated.
Nwahiri, nevertheless, stated that the interval unfolded in a difficult panorama, marked by vital international and home financial developments that impacted enterprise.
“Persistent inflationary pressures, overseas alternate volatility for important uncooked supplies, excessive rates of interest, delays in processing overseas alternate by the CBN hindered manufacturing effectivity, rising power prices and others continued to exert stress on manufacturing corporations.
In Nigeria, coverage modifications launched by the Federal Authorities led to macroeconomic changes that affected enter prices and client buying energy
“The Nigeria cable market additionally confronted saturation from low-quality imported cables and inadequate regulatory monitoring, resulting in confusion, hindering optimum sale of high quality cables, and selling unfair competitors,” she added.
Based on her, regardless of the headwinds, Cutix PLC demonstrated exceptional resilience, navigating macroeconomic difficulties with strategic self-discipline, sturdy market positioning, operational power, and thaff dedication.
The Imo State College, Owerri legislation graduate counseled the invaluable contributions and resolute help of the shareholders and fellow board members for constantly steering the corporate towards sustained progress and prosperity.
