The results showed that total assets increased by six per cent from N416bn in December 2021 to N442.7bn in December 2022, primarily due to additional investment in the recovery of the power plants and investment in financial assets.
The conglomerate saw a seven per cent increase in its power investments, despite the challenges faced in the year from the issues with gas supply, off the diminished oil & gas production in the country in 2022. The hospitality sector achieved a revenue of 31.4bn and profit before tax of N4.5bn. These achievements were made within a challenging operating environment characterised by foreign exchange volatility, high cost of production and rising inflation, the statement said.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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