PZ Cussons Nigeria Plc (NGX: PZ) has explained the delay in publishing its audited financial statements for the year ended 31 May 2021.
The company in notification published on the Nigerian Exchange on Friday, said the delay in the filing is to due to “circumstances occasioned by the COVID-19 pandemic”
PZ said that although the situation created by the pandemic has eased, “there were and still exist unforeseen circumstances that have made it impossible for the Company to comply with the timeline to file its Audited Financial Statements for the period ended 31 May 2021 by the due date of 29 August 2021.”
The company said it needs three weeks to finalize the annual reports, adding that the account statements would be filed on or before 24 September 2021.
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PZ had on 25 June 2021 released its unaudited financial statements for the year ended 31 May 2021. According to the reports, the company’s revenue grew by 23% to N82.38 billion, while the profit for the period stood at N1.83 billion against a loss N7.24 billion posted in the preceding year.
Total assets increased by nearly N10 billion to N87.74 billion from N78.45 billion as at 31 May 2020.
Total Liabilities increased to N51.75 billion from N43.89 billion, while total equity rose by over a billion to N35.99 billion from N34.56 billion.
PZ Cussons Nigeria Plc’s equity price is N5.75 per share. Year-to-date, the share price is up 8.49%.
The 52-week high and low prices are N6.30 and N4.00 per share respectively.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.