Eterna Plc posted its strongest annual profit growth in more than 10 years after booking a one-off debt gain and containing foreign-exchange losses, even as revenue slipped and borrowing remained elevated.
Net income rose 69 percent to N2.28 billion in the year ended December 31, from N1.35 billion a year earlier, according to the company’s unaudited results. Earnings per share climbed to N1.75 from N1.03.
The performance exceeded management’s earlier full-year guidance, which projected net profit of N1.0 billion and turnover of N243.06 billion. Actual revenue came in at N302.52 billion, beating the forecast by about 24 percent, while profit more than doubled the target.
