Paint and Coating Manufactures Nigeria Plc 3 Months financial Summary.

3 Months Report PAINT AND COATINGS MANUFACTURES NIGERIA PLC
	2017 N'000	2016 N'000	change	Year End
Revenue	888,793	716,431	24%	December
Profit/Loss before taxation	16,595	26,255	-37%
Profit/Loss for the period	11,284	17,853	-37%
Issued Shares (Units)	792,914,256	792,914,256
Basic Earnings Per Shares (Kobo)	1.00	2.00	-50%
Last total dividend paid (Kobo)	0.00	0.00

Paintcom released its Q1 2017 result to the Market and the performance of the Company outlined the challenges still facing that sector. In the coming days effort would be geared toward bringing the results of all the major quoted paint companies on the Nigeria Stock Exchange together.

Revenue increased by 24% year on year and 7.25% quarter on quarter. On the other hand, PAT decreased by 37% year on year  but however increased by 173.33% quarter on quarter.

Aside the high cost of sales, the major line of concern is the administrative expenses that increased by 28.27% within the period. Management should watch this going forward, and source for raw materials to supplement imported ones.