The 9M:2020 financial scorecard of Chemical and Allied Product Plc’s. (CAP) came out better as the company’s topline grew by 3.67%YoY to NGN5.99bn (vs NGN5.78bn in 9M:2019), in spite of the setback suffered in H1. Clearly, this is due to the 33.69%YoY growth recorded in Q3:2020. However, we take this with some caution as we notice the increase in credit sales evinced by a spike in trade receivables (+68.20%) from 2019FY.
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