After NSE Pressure, Thomas Wyatt Plc Posts Loss In Unaudited Financial Report

Thomas Wyatt Nigeria Plc has published a N42,327,253 million loss in its fourth quarter (Q4) unaudited financial statement after the Nigerian Stock Exchange (NSE) warned investors in the country to trade with caution on the securities of the company.

THE WHISTLER had reported on Thursday that Thomas Wyatt had violated the provisions of Rule 1.1.2 of the ‘Issuers Rule and Default Filing Rules’ of the Exchange, which mandates listed companies to file in its UFS not later than 30 calendar days after the period.

The company responded Friday by filling their UFS for Q4 2019 on The Exchange, which shows -15% increased loss of -N42,327253 million from the -N36,357,715 million recorded in 2018.

The company’s statement of change in equity further shows a negative equity position of -N 385,369,781 million as at 30 December 2019, which is an increase compared with the -N322,918,481 million loss recorded as at 30 December 2018.

Thomas Wyatt had defaulted in 2018 and was consequently delisted on 1 November 2018 by the Exchange after it failed to file in its UFS.

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The NSE reinstated its listing standing on February 2, 2019 after the company provided the UFS as required by the Exchange.

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