Conoil Plc’s Profit Hits N1.6 Billion at Half Year

by Research 21. August 2013 09:06

Conoil Plc has said it recorded 255 per cent increase in profit after tax from N450.9 million in 2012 to N1.6 billion at as half year-ended June 30, 2013.

The company added the performance demonstrated its resilience to overcome the overwhelming challenges in the downstream oil sector.

It declared a whopping N1.98 billion as profit before tax against N663.1 million recorded in the corresponding half-year period in 2012.

Conoil said its revenue rose to N79.6 billion from N76.2 billion, while earnings per share (EPS) increased significantly from 65 kobo to 230 kobo.
The company attributed this performance to the adoption of robust growth strategies, efficient management of resources and total elimination of waste in its operations.

The company assured its shareholders of its optimism to sustain and grow the impressive performance in the remaining six months of the year. It also assured better returns for shareholders at the end of the current financial year.

Revealing its edge, the company said it strengthened and repositioned its core businesses, with huge investments in retail network expansion, which involved building multi-million Naira mega stations across the country.

In the statement issued to announce the result, the company emphasised: "For us, the downstream remains fundamentally attractive now, in the medium and long term. With our clarity of direction and focus, our company's long term success is assured."

 

It added: "We will sustain our improved performance and realise our aspiration to become the leading petroleum products marketer and one of the most profitable quoted companies. We will continue to benchmark our company against best global standards and practices to ensure that the business is managed in the best interest of all stake holders."

Source: Thisday Live

Tags:

Comments

23/04/2014 10:25:21 #

PD Consultants UK Twitter

Have you considered about incorporating some social bookmarking buttons to these blogs. At least  for google.

PD Consultants UK Twitter United States

23/04/2014 10:33:39 #

ambien

My family and I are looking for a great place to camp in California. We love being surrounded by redwoods, but would like to stay near central California (close to where we live). Yosemite is booked and we have stayed at the KOA in Santa Cruz and liked it. Does anyone have any other suggestions on great places for a family with young children?.

ambien United States

23/04/2014 10:37:36 #

blog buzz

I have read a few of the articles on your website now, and I really like your style of blogging. I added it to my favorites blog site list and will be checking back soon. Please check out my site as well and let me know what you think.

blog buzz United States

23/04/2014 10:47:42 #

titanfall cheats

Youre so cool! I dont suppose Ive learn something like this before. So good to seek out any person with some original thoughts on this subject. realy thank you for beginning this up. this website is something that's needed on the internet, somebody with a bit of originality. helpful job for bringing something new to the internet!

titanfall cheats United States

23/04/2014 11:22:25 #

phentermine 37.5 side effects: what to know before you take this

Congratulations on having one of the most sophisticated blogs Ive come across in some time!  Its just incredible how much you can take away from something simply because of how visually beautiful it is.  Youve put together a great blog space --great graphics, videos, layout.  This is definitely a must-see blog!

phentermine 37.5 side effects: what to know before you take this United States

23/04/2014 11:24:40 #

ambien

What blogging site would you say is the best place to post fanfiction?

ambien United States

23/04/2014 11:26:33 #

jersey estate agents

Way cool! Some extremely valid points! I appreciate you penning this write-up and also the rest of the website is really good.

jersey estate agents United States

23/04/2014 11:29:14 #

retire early with real estate investing

Congratulations on having one of the most sophisticated blogs Ive come across in some time!  Its just incredible how much you can take away from something simply because of how visually beautiful it is.  Youve put together a great blog space --great graphics, videos, layout.  This is definitely a must-see blog!

retire early with real estate investing United States

23/04/2014 12:01:45 #

amateur

Thank you a bunch for sharing this with all people you really realize what you are talking about! Bookmarked. Kindly additionally consult with my web site =). We will have a hyperlink trade agreement between us!

amateur United States

Add comment


(Will show your Gravatar icon)

  Country flag

biuquote
  • Comment
  • Preview
Loading



Powered by BlogEngine.NET 1.6.0.0
Theme by Mads Kristensen

TextBox

Calendar

<<  April 2014  >>
MoTuWeThFrSaSu
31123456
78910111213
14151617181920
21222324252627
2829301234
567891011

View posts in large calendar