Local construction company, Roads Nigeria Plc, in its recently released audited financial statements for the financial period ended 31st March 2015 posted a loss after tax of N227.8 million, a 266.3 percent drop from a profit after tax of N137 million recorded in 2014.
The firm’s revenue slid 42 percent to N1.9 billion from N3.3 billion posted in the corresponding period of 2014.
Other highlights of the result were a 259 percent decrease in pre-tax loss of N323.7 million from a pre-tax profit N203.4 million, while earnings per share decreased from N6.85 in 2014 to a loss per share of N11.39 in 2014.
Shareholders’ funds dropped 44 percent to N290.3 million from N517.9 million in 2014, while total assets declined 2 percent to N3.517 billion from N3.589 billion.
Roads Nigeria Plc currently with a share price of N6.60 per share is into the business of constructing roads, bridges, airfields and dams.