John Holt Plc has reported a recovery in its financial performance for the year 2024, posting a profit after tax of N2.47bn, marking a 347 per cent increase compared to the loss of N1bn recorded in 2023.
In the company’s financial statement for the year ended September 30, 2024, the company’s revenue for the period stood at N3.15bn, a 72 per cent rise from the previous year’s N1.83bn.
John Holt provides diesel generators, gas generators, premium air-conditioning solutions, innovative fire safety equipment, warehousing, and construction services.
This growth was driven by higher sales and other operating income, which increased to N4.76bn, compared to N587m in 2023.
Despite facing foreign exchange losses of N2.04bn in 2024, the company managed to improve its bottom line due to strong operational management. Administrative expenses dropped by 27 per cent, from N509m in 2023 to N370m in 2024.
John Holt Plc total assets were N8.87bn, reflecting a 39 per cent decline from N14.48bn in 2023. This reduction was attributed to a decrease in liabilities, which fell by 68 per cent to N4.08bn, compared to N12.55bn in the prior year.
The company’s equity grew by 150 per cent, reaching N4.8bn in 2024, up from N1.92bn in 2023. Earnings per share increased to 634 kobo, a sharp recovery from a loss of 256 kobo in 2023.
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