Cutix forecasts N122m Q3 profit, projects lower interest rates

Cutix Plc anticipates a profit of N122.11m before tax for the third quarter of its 2027 financial year, according to a forecast report filed with the Nigerian Exchange. The company expects to generate N4.26bn in revenue, primarily from its core house wiring cable segment, which is projected to bring in N3.38bn, and power cables and metal products contributing N256.57m and N619.10m respectively.

Distribution panels are anticipated to contribute N3.00m to the revenue. Uchechukwu Igbokwe, Acting CEO, and Uche Okonkwo, Acting CFO, officially signed the forecast, which was submitted to the Nigerian Exchange on Thursday. The forecast indicates a 15% increase in revenue compared to previous quarters, based on actual Q1 FY2027 performance and expected sales volume improvements.

However, profit before tax is expected to fall from the N162m forecast in the second quarter due to ongoing cost pressures, especially on copper raw materials, which have pushed the raw material cost-to-sales ratio to 75% without a corresponding price increase in the competitive market.