Conoil posts N424m profit in Q1 2021

Conoil posts N424m profit in Q1 2021

Conoil posts N424m profit in Q1 2021     Conoil Plc, chaired by Nigeria’s business mogul, Mike Adeuga has published it financial scorecards for the first quarter of the year 2021. According to the unaudited report released at the Nigerian Exchange Limited, the energy company posted profit after tax of N423.93 million in the three-month period, 63 per cent higher than that of Q1 2020. However, the company’s turnover tumbled by over N5 billion as the energy firm gained relief after paying up N4.3 billion damages in installments to a…

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Conoil shareholders get N1.39bn dividend

Conoil shareholders get N1.39bn dividend

Shareholders of Conoil Plc have approved the payment of N1.39 billion dividend proposed by the board of the oil marketing company. This came on the back of appreciable performance recorded in the 2019 financial year, and thus, the shareholders will get 200 kobo on every 50 kobo ordinary share. At the virtual 50th Annual General Meeting (AGM) of the company held by proxies at the weekend in Lagos, the shareholders were unanimous in their commendation for performance of the Board and Management and for the consistency in the payment of…

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2019: Conoil records N139.8bn turnover; pays N1.39bn dividend

Conoil posts N424m profit in Q1 2021

Against the background of the tough challenges that marked the operating environment of the downstream oil sector, the nation’s total energy provider, Conoil Plc turnover still surged by 14.4 per cent to N139.8 billion in 2019. Conoil’s 2019 full year results, made available to journalists, showed that the company maintained its leadership position in the industry, reaping bountifully from the huge investments in its business portfolios. The company recorded a 9.8 per cent growth in Profit after Tax (PAT) which rose to N1.97 billion in 2019 from N1.79 billion posted…

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