Eko Retail Stores Plc reported the following results for Q3 2023: Net profit before interest and tax = ₦18,750,000; Total assets = ₦125,000,000; Current liabilities = ₦25,000,000. What is the company's Return on Capital Employed (ROCE)?

ROCE = (PBIT ÷ Capital Employed) × 100. Capital Employed = Total assets − Current liabilities = ₦125,000,000 − ₦25,000,000 = ₦100,000,000. ROCE = (₦18,750,000 ÷ ₦100,000,000) × 100 = 18.75%. This ratio measures how efficiently management uses capital to generate profits before the effects of financing and taxation.