Cutix Plc, one of the West Africa’s leading electrical cable and wire manufacturers, held its 43rd Annual General Meeting (AGM), on Friday, at Anaedo Social Club Hall, Nnewi, Anambra State, to review the financial year ended 30 April 2026.
Although the AGM revealed a shortfall in financial outlook, the company has already started implementing tighter financial controls and new investments in production and renewable energy to ensure it enters FY2027 with better credentials and prospects.
The company posted a loss before tax of N124.76 million for the period ended April 30, 2026 compared with a profit before tax of N1.61 billion achieved in the preceding year.
The company’s profit after tax also declined significantly from N1.03 billion in FY2025 to a loss after tax of N198.02 million in FY2026.
The 2026 financial year was undoubtedly the most challenging period in the history of the company.
