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CAP Plc Reports N3.1 Billion Pre-tax Profit For FY 2022

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Chemical and Allied Products (CAP) Plc released its 2022 unaudited full-year results on Friday, January 27, 2023, reporting a pre-tax profit of N3.1 billion. 

This represents a 79% increase from the N1.7 billion the company reported during the same period in 2021. 


  • 2022 FY: N19.2 billion 
  • 2021 FY: N14.2 billion 
  • Change: +35% 

Gross Profit  

  • 2022 FY: N7.6 billion 
  • 2021 FY: N4.6 billion 
  • Change: +67% 

Operating profit  

  • 2022 FY: N2.96 billion 
  • 2021 FY: N1.55 billion 
  • Change: +90% 

Finance cost  

  • 2022 FY: N34 million 
  • 2021 FY: N8 million 
  • Change: +341% 

Pre-tax profit  

  • 2022 FY: N3.1 billion 
  • 2021 FY: N1.76 billion 
  • Change: +79% 

Net Profit after tax 

  • 2022 FY: N2.08 billion 
  • 2021 FY: N1.12 billion 
  • Change: +86% 

Bottom line: The growth in pre-tax profits was due to the increase in sales of paint products despite inflationary pressure and depreciation of the naira. 

The revenue from paint products accounted for 99% of the total revenue achieved by the company during the period under revenue. 

Source: nairametrics

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