Aluminium Extrusion Industries enjoys increased sales by 11.88 percent

Aluminium Extrusion Industries plc has increased sales by 11.88 percent by their focus strategy and marketing penetration despite country’s ongoing battle with cheap imports.

In the first half of 2014, this Nigerian roofing company has upped its revenue by 11.8 percent, jumping from N894.91 to N1 billion when compared to same period last year.

The ever increasing energy costs have pushed the cost of sales by 15.83 percent to N889.86 million in 2014 rising from last year’s N768.19 million. Even the cost of sales margin has increased by 88.87 percent from last year’s 85.90 percent.

The operating expenses have also risen by 10.50 percent which put pressure on Aluminium Extrusion bottomline decreasing the profit after tax (PAT) by 44.08 percent.

Despite all these obstacles, there is growth of sales which is primarily due to the rising economic growth of Nigeria. In the past five years, the average growth rate is recorded at 7 percent per annum. With over 60 percent of the population living in rented accommodation, there is a definite potential in the residential construction business as far as roofing is concerned.

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