Actual property firm Haldane McCall studies 168% revenue surge; Land and constructing gross sales hit N2.6 billion 

Actual property firm Haldane McCall PLC has reported a full-year 2024 pre-tax revenue of N1.01 billion in its {financial} report launched on the Nigerian Alternate (NGX) on February thirteenth, 2025.

This determine represents a 168.44% improve from the pre-tax revenue of N377.8 million reported for the fiscal 12 months 2023, amid a notable rise in income.

For fiscal 12 months 2024, Haldane McCall Plc’s income soared to N3.6 billion, reflecting a 109.50% improve from N1.7 billion within the earlier 12 months, majorly pushed by land and constructing gross sales, which accounted for 73.4% at N2.6 billion.

Moreover, complete belongings elevated by 22.82% year-over-year, rising from N17.9 billion within the earlier 12 months to N21.9 billion in fiscal 12 months 2024.

Key highlights 

• Income: N3.6 billion, +109.50% YoY
• Value of Gross sales: N1.5 billion, +93.84% YoY
• Gross Revenue: N2.05 billion, +123.38% YoY
• Administrative Bills: N1 billion, +95.92% YoY
• Working Revenue: N1.01 billion, +168.44% YoY
• Pre-tax Revenue: N1.01 billion, +168.44% YoY
• Submit-tax Revenue: N679.6 million, +164.49% YoY
• Complete Property: N21.9 billion, +22.82% YoY
• Complete Liabilities: N5.3 billion, +34.44% YoY

Commentary 

Haldane McCall Plc reported a income of N3.6 billion for the fiscal 12 months 2024, representing a 109.50% improve in comparison with N1.7 billion in 2023.

• The sale of land and buildings was the first driver of this income, accounting for 73.4% at N2.6 billion, whereas lodge income contributed 19.2% at N699.8 million.
• Different earnings sources, together with service costs, different income, and lease, made up 4.9%, 1.9%, and 0.4%, respectively.

On the draw back, the price of gross sales elevated by 93.84% year-over-year, reaching N1.5 billion, up from N816.7 million within the earlier 12 months.

Regardless of producing N20.8 million from different working earnings, with ‘different earnings’ comprising almost the whole thing of this quantity, the rise in administrative bills was notable. These bills climbed by 95.92% year-over-year to N1 billion, up from N544.1 million in 2023.

• Main parts included salaries and wages at N174.5 million, depreciation at N81.9 million, and electrical energy prices at N74.9 million.

Working revenue elevated by 168.44% year-over-year to N1 billion, in comparison with N377.8 million within the earlier 12 months.

• This development considerably boosted pre-tax earnings to N1 billion, benefiting from the absence of finance prices and representing a 168.44% improve year-over-year.
• The post-tax revenue determine stood at N679.6 million, reflecting a 164.49% improve from N256.9 million in 2023.

Property and liabilities 

In Fiscal 12 months 2024, the corporate skilled a notable improve in complete belongings, which rose by 22.82% to achieve N21.9 billion, in comparison with N17.9 billion in 2023.

• Non-current belongings accounted for N14.2 billion, with a considerable 99.73% represented by property, plant, and gear.
• Present belongings totaled N7.7 billion, predominantly pushed by inventories, which amounted to N5.6 billion—99.93% of which consists of properties at the moment below building.

On the liabilities aspect, complete liabilities elevated to N5.3 billion from N3.9 billion.

• Non-current liabilities reached N2.5 billion, primarily consisting of long-term obligations.
• Present liabilities stood at N2.8 billion, with vital parts together with a director’s present account of N1.6 billion and commerce and different payables totaling N896.7 million.