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Conoil Full Year 2019 profit up by 11%

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Conoil Full Year 2019 profit up by 11%

Petroleum marketing company, Conoil Plc, has declared an 11% growth in its after-tax profit for Full Year 2019 compared to the corresponding period of 2018.

Conoil disclosed this and other details of its financial performance in its Unaudited Financial Statements for the Period Ended 31 December 2019, posted on the Nigerian Stock Exchange (NSE) website on Thursday.

Revenue rose by 14% from N122.213 billion at FY2018 to N139.758 billion in the relative period of 2019.

Profit Before Tax (PBT) recorded a modest increase, moving from N2.567 billion at FY2018 to N2.777 billion at FY2019, translating to 8% growth.

Profit for the Year advanced by 11% from N1.796 billion as of the end of 2018 to N1.986 billion in the same period last year.

Read also: 11 Plc’s Full Year 2019 profit falls by N473.2m

Earnings Per Share (EPS) similarly grew by 11% from N2.59 at FY2018 to N2.86 at FY2019.

Conoil declared a dividend of N1 per share for FY2018 and there are hopes the company will reward its investors this year again in light of its improved performance.

As of today, its outstanding shares stand at 693,952,117 with a market capitalisation of over N13.879 billion.

Listed Securities Company Details

Conoil currently trades on the floor of the NSE at N20 per share.

Earnings Per Share is the profit that each unit of a company’s ordinary shares  yields  during a particular period. It is simply calculated by dividing the Profit After Tax by the company’s total outstanding shares.  Increase in a company’s EPS often reflects an improvement in its bottom-line while a fall, on the other hand, indicates a declining profit.

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