The Initiates Plc reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was NGN 197.5 million compared to NGN 230.56 million a year ago. Net income was NGN 11.22 million compared to NGN 38.49 million a year ago.

Basic earnings per share from continuing operations was NGN 0.01 compared to NGN 0.04 a year ago.