LAGOS, Nigeria (VOICE OF NAIJA)-Multiverse Mining and Exploration Plc has forecasted a revenue of N208 million for the third quarter of 2024.
This projection was detailed in a recent corporate notice submitted to the Nigeria Exchange Limited and signed by company secretary Alabidun Bayo and Equity Union Limited.
Multiverse Mining and Exploration Plc operates in the mining sector, specializing in the exploration, extraction, sale, and distribution of stones and other solid minerals.
The company projects July’s revenue to be N44.7 million, with N14.1 million expected from quarry operations and N30.6 million from mine operations.
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In August, the company anticipates a revenue of N56.7 million, with N16.2 million from quarry operations and N40.5 million from mine operations.
When adding the expected N161.2 million for September, the total projected revenue for the quarter is N208 million.
Multiverse Mining forecasts a gross profit of N166.4 million.
The company has outlined its strategy for managing operating expenses, with selling and distribution costs and administrative expenses estimated at N81.05 million.
For the third quarter, it projects an operating profit of N85.35 million and plans to allocate N55.53 million for loan repayments.
The anticipated profit before tax for Q3 2024 is N29.82 million.