Morison Industries Plc has reported a near doubling of its revenue for the 2024 financial year even though the company remains loss-making, largely driven by rising operational costs.
According to the company’s audited financial statements for the year ended December 31, 2024, Morison Industries recorded a 98 percent increase in revenue, growing from N145.23 million in 2023 to N287.18 million in 2024.
The growth was driven largely by increased demand for its hygiene and pharmaceutical products and stronger third-party contract manufacturing activity.