Meyer posts N15.62m quarterly loss despite revenue doubling

Meyer Plc, a paint manufacturing company, saw its loss before tax narrow to N15.62 million for the second quarter of this year from N35.26 million in the same period of 2020.

The company reported a loss after tax of N17.44 million, compared to N35.74 million in Q2 2020, according to its unaudited financial statements.

Its revenue, however, more than doubled to N261.99 million from N129.56 million.