For the first time in 10 years, John Holt, a Nigerian conglomerate, recorded a profit in the full year 2024 from a loss at the end of 2023 driven by foreign exchange gains from the parent company’s support during operating activities.
According to the company’s unaudited financial statements, after-tax profit grew by 104 percent to N8 million from a loss of N199 million at the end of 2023.
Notably, John Holt’s latest financial results show a profit turnaround, marked by lesser costs of sales and no foreign exchange losses, a significant difference from previous years’ performances.