- Geregu Power attained 2021 a net profit increase of 45.5 per cent.
- Revenue shoots to almost N71 billion.
Geregu Power in Kogi State, Nigeria, controlled by the business tycoon Femi Otedola, had assets totalling N114.8 billion in value at the end of the review period.
Profit before tax rose to N29.5 billion, more than two-fifths higher. The bottom line accelerated to N20.6 billion by 45.5 per cent.
Nigerian Exchange’s debutant Geregu Power Plc attained 2021 a net profit level 45.5 per cent above the figure it announced a year earlier, according to the audited earnings report of the Ajaokuta-based gas power generator.
Great jumps in the volume of energy sold and capacity charge were the drivers of growth, shooting revenue by almost a third to N71 billion.