CAP Sees Significant 52% Revenue Growth.

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Chemical and Allied Products (CAP) Plc Releases Unaudited Financial Results for 2024, Posts Impressive 52% Revenue Growth

Chemical and Allied Products (CAP) Plc has released it’s unaudited financial results for the fiscal year ending December 31, 2024. The company’s financial performance underscored its resilience and operational efficiency despite a tough business environment.

CAP reported a 52% revenue growth to N36.36 billion, up from N23.89 billion in 2023. “The growth was fuelled by increased demand for our paint and coatings products,” the company said. This led to higher sales volumes, accounting for 99.8% of total revenue, and an expanded customer base.

The company’s strategic focus on innovation and customer satisfaction contributed significantly to it’s revenue growth.

CAP’s investment in research and development enabled the introduction of new products and services, which resonated well with customers.

To support its growth ambitions, the company invested N1.86 billion in property, plant, and equipment. This investment enhanced production capacity, improved operational efficiency, and enabled the introduction of innovative products to meet market demand.

The company’s profit before tax (PBT) grew by 57% to N5.91 billion, while profit after tax (PAT) surged by 69% to N2.64 billion. This impressive profit growth reflects CAP’s ability to maintain profitability in a dynamic market.

The company’s earnings per share (EPS) doubled to N3.24, up from N1.57 in 2023. The growth reflects CAP’s increasing earnings capacity and potential for enhanced shareholder dividends.

Overall, CAP’s unaudited financial results for 2024 demonstrate the company’s commitment to long-term growth, innovation, and customer satisfaction.

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