The Initiates Plc Reports Total Asset of NGN2.12B as at 30th June, 2023

Published On: July 26, 2023Company: The Initiates Plc (
What is the Total Asset of The Initiates Plc ( as at 30th June 2023?
The Total Asset of The Initiates Plc ( is NGN2.12 Billion as at 30th June, 2023.

Second Quarter (April – June 2023) Introduction

  • Reported a total revenue of NGN 373.25M (31.19% increase over same period in 2022)
  • Gross Profit of N153.94M, Net Profit before Tax of N81.43M

Half Year 2022 Report (Jan – June 2023)

  • Posted a total revenue of NGN570.15M (14.31% increase as at half year in 2022)
  • Gross Profit of N233.13M, Net Profit before Tax of N86.87M (20.43% less than same period in 2022)

Balance Sheet

  • Total Asset of over NGN2.12B as at 30th June, 2023
  • Trade Receivable of NGN413.9M with NGN2.5m receivable above 90 days
  • Trade Payable of NGN342.635M
  • Liquidity of NGN47.8M including Cash & Cash Equivalent and Loan (BOI Loan)
  • Gearing Ratio of 1:90 as at 30 June, 2023

Useful links

About The Initiates Plc (

The Initiates Plc is a professional waste management company in Nigeria offering services for waste management, industrial cleaning and decontamination for the private and public sectors. The company head office is in Lagos, Nigeria. The Initiates Plc is listed on the Nigerian Stock Exchange

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