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Conoil Reports N70.23b Turnover in 3Q



  • Conoil Reports N70.23b Turnover in 3Q

Conoil Plc reported a turnover of N70.23 billion for the quarter ended September 30, 2017. This is higher than the N63.95 billion recorded in the corresponding quarter of 2016.

While gross margin climbed from N9.5 billion in 2016 to N10.57 billion the third quarter of 2017. Profit before tax stood at N2.03 billion in 2017, slightly lower than the N2.72 billion recorded in the preceding year.

“We will quicken our pace and sharpen our strategies in the coming months to meet our goal of moving from competing to winning in the market place, while focusing more on delivery and growth,” Conoil said.

The company further assured shareholders of maximum value on investment as well as excellent service delivery to customers.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.