(In Nigeria)Tripple Gee Reports N1.39bn Loss Amid Revenue Drop and Rising Costs

 

Tripple Gee and Company Plc has reported a significant loss after tax of N1.39 billion for the financial year ended March 31, 2025, a sharp contrast to the N7 million profit recorded the previous year. The company’s revenue dropped by 17.3 percent, falling from N2.20 billion in 2024 to N1.82 billion in 2025. This decline in earnings was largely attributed to rising operational and finance costs.

The cost of sales increased from N1.39 billion to N1.74 billion, reducing gross profit from N810.6 million to just N86.5 million. Administrative and distribution expenses also surged, rising from N565.13 million to N889.15 million. These increases pushed the operating result into a loss of N802.6 million, compared to an operating profit in 2024.

Finance costs more than doubled from N227.46 million to N573.75 million, contributing to a pre-tax loss of N1.38 billion, a stark contrast to the N18 million pre-tax profit in the prior year. After accounting for a tax charge of N9.1 million, the company ended the year with a net loss of N1.39 billion. This loss translated to a negative earnings per share of 140.8 kobo, compared to the 1.41 kobo recorded in 2024.

The company’s balance sheet also showed signs of distress, with total assets declining from N6.34 billion in 2024 to N5.48 billion in 2025. Non-current assets dropped from N3.80 billion to N3.37 billion, while current assets decreased to N2.10 billion from N2.55 billion. Liabilities increased, with long-term loans rising to N3.29 billion from N2.92 billion, and short-term borrowings growing to N1.28 billion from N976.63 million. As a result, the company’s equity position turned negative, dropping to -N588.3 million, a sharp decline from the N805.6 million recorded in 2024.

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