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Nature of Business:   Manufacturer of wire nails and other wire products.

Head Office Address: 3 NIWIL Close, Off Oba Akran Avenue, Ikeja Industrial Estate, P.O.Box 50, Ikeja, Lagos State.

Telephone: (002341) 496 6744, 4967719

Website: None

Date of Incorporation: 16.5.73.

Date Listed on the Lagos Stock Exchange: 1978

Auditors: Akintola Williams & Company ( Chartered accountants), 7 Town Planning way, Opposite LSPDC Office, Ilupeju, P.O.Box 825, Marina , Lagos State.

End of Accounting Year: 31st of December.


5-Year Financial Summary




1997 1996 1995 1994 1993
CAPITAL EMPLOYED: N'000 N'000 N'000 N'000 N'000
Turnover 149,728 136,914 126,098 114,584 112,990
Profit/(Loss) before Taxation 2,041 1,428 (2,874) 2,697 3,521
Taxation (652) (458) (289) (572) (1,419)
Profit/(Loss) after Taxation 1,389 970 (3,163) 2,125 2,102
Extra-ordinary income 4,164
Dividend (750) (750) (750) (1,650)
Profit/(Loss) Retained 639 220 1,001 1,375 452
Earnings per Share (Actual) 9k 6k (21k) 28k 28k
Earnings per Share (Adjusted) 9k 6k 14k 14k
Dividends per Share (Actual) 2.2k 5k 5k 10k
Dividends per Share (Adjusted) 5k 5k 5k 11k

Assets Employed:
Fixed Assets 20,246 20,100 13,352 15,660 15,566
Net Current Assets/(Liabilities) 8,371 7,878 14,406 (1,958) (493)
Amount fall. due after more than 1year (1,660) (1,660) (1,660) (1,660) (4,406)
26,957 26,318 26,098 12,042 10,667

Financed By:
Share Capital 7,500 7,500 7,500 3,750 3,750
Reserves 19,457 18,818 18,598 8,292 6,917
Shareholders' Funds 26,957 26,318 26,098 12,042 10,667

Earnings  per share are based on the profit after tax. Earnings and dividends per share for the 5years have 
been calculated on the basis of 15,000,000 ordinary shares of 50kobo each in issue at 31.12.97.





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