Tripple Gee and Company Plc have reported a loss after tax of N1.39bn for the financial year ended March 31, 2025, a downturn from the N7m profit recorded in the previous year.
According to the audited financial statements filed on the Nigeria Exchange recently, revenue for the year dropped by 17.3 per cent, falling from N2.20bn in 2024 to N1.82bn in 2025. The sharp decline in gross earnings, coupled with rising operational and finance costs, contributed to the firm’s negative bottom line.
The company’s cost of sales rose from N1.39bn in 2024 to N1.74bn in 2025, reducing gross profit drastically to N86.5m, compared to N810.6m in the prior year. Administrative and distribution expenses further increased to N889.15m, up from N565.13m, pushing the operating result to a loss of N802.6m.
Tripple Gee also saw a substantial rise in finance costs, which more than doubled to N573.75m from N227.46m in 2024. As a result, the company posted a pre-tax loss of N1.38bn, compared to a modest pre-tax profit of N18m in the previous year. After accounting for a tax charge of N9.1m, the net loss stood at N1.39bn.
The loss translated to negative earnings per share of 140.8 kobo, a steep fall from the 1.41 kobo EPS recorded in 2024. In addition, Tripple Gee recorded another comprehensive loss of N8.45m, pushing the total comprehensive loss for the year to N1.39bn.
An analysis of the statement of financial position reveals a weakened balance sheet. Total assets declined from N6.34bn in 2024 to N5.48bn in 2025. The company’s non-current assets dropped from N3.80bn to N3.37bn, while current assets declined to N2.10bn from N2.55bn.
Meanwhile, liabilities increased, with long-term loans rising to N3.29bn from N2.92bn and short-term borrowings climbing to N1.28bn from N976.63m. Current liabilities, including trade payables and provisions, stood at N2.77bn, marginally up from N2.61bn in the prior year.
As of year-end, the company’s equity position turned negative, with total equity at -N588.3m, compared to a positive N805.6m in 2024, a development that highlights the erosion of shareholders’ funds.
The PUNCH reported that Triple Gee has reported a profit after tax of N7m for the financial year ended March 2024, indicating a decline of 94.30 per cent from N122.90m in the previous year.
