Med-View revenue hits N13bn as profit jumps to N857m

Med-View Airline has recorded a profit after tax of N857 million for the first half of 2017, jumping from N671.5 million recorded in H1 2016.

According to the financial statement by the company, filed at the Nigerian Stock Exchange (NSE), the company recorded a gross revenue of N13 billion, as against N8.75 billion only a year ago.

Its profit before tax climbed from N738.7 million in the first half of 2016 to N945.3 million in the corresponding time in 2017.

The company said it had taken all its liabilities and commitments into account, while drafting its financial statement, except those that bother on legal liabilities due to its favourable outlook on the legal actions.

“The Directors are of the opinion that all known liabilities and commitments have been taken into account in the preparation of these financial statements,” the company said.

“There are contingent liabilities in respect of legal actions against the company amounting to N43,794,000 (there were no contingent laibilities in the previous year).

“Management has not made provision for this liability as consultations with the Company’s external solicitors has indicated that the likely outcome of the legal actions may favour the Company.”

Earning per share also grew from N6.89 in 2016 to N8.79 for the half ending on June 30, 2017.