NCR Nigeria PLC Ends Two-Year Loss Streak with N238m Profit on FX Gains

NCR Nigeria PLC has announced a turnaround with a profit of N238 million, marking the end of a two-year loss streak. The company attributed this success to foreign exchange gains and a significant reduction in operating expenses due to effective cost management.

Revenue from contracted customers increased by 14%, reaching N1.50 billion compared to N1.32 billion in 2024. Despite a rise in cost of sales by 11.5%, the company achieved a 23.5% improvement in gross profit, totaling N321.9 million.

NCR also recorded a foreign exchange gain of N35.66 million, a significant reversal from the previous year's loss of N2.67 billion.