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IMG posts N1.6bn profit for 2024

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The Industrial and Medical Gases Nigeria (IMG) has recorded N1.622 billion profit for the financial year ended Dec. 31, 2024.

This is a 90 per cent increase from N852.75 million recorded in 2023.

The company declared this in a corporate disclosure through the Nigerian Exchange Ltd. on Tuesday.

While its revenue rose by 38 per cent from N6.064 billion in 2023 to N8.376 billion in 2024, the company’s profit before income tax also grew by 96 per cent from N1.247 billion in 2023 to N2.442 billion in 2024.

Its share capital remained the same at N249.75 million.

The total equity witnessed 41 per cent surge from N4.19 billion in 2023 to N5.91 billion in 2024.

The company paid N196.441 million dividend in 2024 as against N157.031 million paid in 2023, recording 25 per cent increment.

The company’s declared cash dividend during the year 2024 was N249.75 million, a 100 per cent increase from N199.79 million of 2023.

The results from operating activities rose by 92 per cent from N1.279 billion in 2023 to N2.449 billion in 2024.

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Taiye Olayemi

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