CUTIX grows revenue by 30% in 4 months

CUTIX Plc has generated a revenue growth for the first four months of the year, reaching N15.8 billion from January to April.

The cable manufacturing company disclosed these figures in a corporate filing with the Nigerian Exchange Ltd. on Monday in Lagos.

It said that the figure represented 30 per cent increase when compared to the N12.28 billion generated during the same period in 2024.

However, in spite of the growth, the company experienced a slight dip in profitability.

Profit after tax decreased by three per cent from N1.06 billion to N1.03 billion, while profit before tax saw a one per cent decline, moving from N1.62 billion to N1.60 billion.

On a positive note, CUTIX Plc’s total assets demonstrated healthy expansion, growing by 19 per cent from N7.29 billion to N8.7 billion.

However, earnings per share (EPS) saw a notable 52 per cent decrease, falling from 30.24 kobo to 14.65 kobo.

In a move to reward shareholders, the company’s directors are recommending a dividend of 10 kobo per share.

If approved by shareholders at the upcoming Annual General Meeting, the total dividend payout will amount to N704,528,810.40, representing a 33.33 per cent increase from the N528,396,607 paid out last year.

This proposed dividend is subject to the applicable withholding tax.