SCOA Nigeria posts N381.51m annual loss

SCOA Nigeria Plc has reported a loss after tax of N381.51 million for the financial year 2020, compared with a profit after tax of N319.18 million in the previous year.

The company said its loss before tax fell to N77.26 million last year from N69.75 million in 2019.

Its revenue, however, increased to N6.53 billion from N4.03 billion, according to its audited financial statements.

SCOA Nigeria is involved in the distribution, maintenance and leasing of motor vehicles; and assembly, sales, and servicing of power generators, among others.