The Initiates Plc announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was NGN 120.291 million compared to NGN 107.164 million a year ago. Operating income was NGN 16.420 million compared to NGN 707,816 a year ago. Net income was NGN 7.770 million compared to net loss of NGN 292,184 a year ago. Basic earnings per share was NGN 0.01. Basic earnings per share from continuing operations was NGN 0.01. For the nine months, sales was NGN 366.964 million compared to NGN 366.517 million a year ago. Operating income was NGN 18.910 million compared to NGN 48.146 million a year ago. Net income was NGN 9.463 million compared to NGN 17.479 million a year ago. Basic earnings per share was NGN 0.01 compared to NGN 0.02 a year ago.