Livestock Feeds PLC, a Nigeria-based company that manufactures and markets animal feeds and concentrates, saw its gross revenue grow by 12.53 percent to 6.11 billion Nigerian naira (US$372,000) in 2013.

Profits after tax increased 46.25 percent to NGN211 million (US$129,000) compared with the same period a year earlier.

Livestock Feeds says its financial risk has fallen as its debt ratio shrank to 50.1 percent from 146.2 percent, while total borrowings fell by 6.48 percent to NGN870 million (US$530,000).

The company's share price has been rising by 18.73 percent in the past year to close at N3.17 (US$.019) at the end of March.