Ikeja Hotels Plc has reported a profit before tax of N3.79 billion for the year ended 31 December 2023.
According to the financial statements reviewed by TheTimes, Ikeja Hotels reported revenue of N11.113 billion, a 13.83% decline from the N12.9 billion reported the year prior.
A significant portion of this revenue was from room sales of N7.21 billion compared to the N7.5 billion reported a year earlier.
Ikeja Hotel’s share price closed at N6.43 (up 9.9%) on Wednesday March 27th, 2024. The share price is up 7.17% YTD and has a 52-week high of N10.2 per share.
This shifted the company’s financial performance from a loss in 2022 to profitability in 2023
