Nigerian Enamelware Plc has announced a return to profitability for its fiscal year ended April 30, 2025, despite relocating its factory from its current site in Ogba, Lagos State, to a new location at the Lagos-Ibadan Expressway, Isheri-Ibafo, Ogun State.
The company, known for manufacturing and marketing enamelware, plastic products, and galvanized buckets, in October 2024, revealed that the relocation process, expected to span over nine months before the recommencement of business operations, will significantly disrupt its business operations, potentially leading to substantial financial losses.
Despite previous expectations, the company achieved an after-tax profit of N39 million by April 30, from the N2.59 billion after-tax loss reported during the corresponding period in 2024.
