Conoil’s half year profit rises by 213.7%, share price down 11.3% YtD

In the half year (H1) period ended June 30, 2021, Conoil Plc grew its profit after tax (PAT) by 213.7percent to N1.06billion, up from a low of N338.69billion.

The N18.5kobo per share which Conoil Plc traded on the Nigerian Exchange Limited (NGX) on Wednesday represents year-to-date (ytd) decrease of 11.3percent.

In the review half year period, its revenue of N67.63billion as against N57.45billion in H1’20, represents an increase of 17.7percent.

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Profit before taxation (PBT) also increased by 213.7percent to N1.56billion from N498.08billion in H1’20.

Shareholders’ funds increased to N20.58billion from N19.80billion in H1’20, up 3.9percent. Earnings per share (kobo) increased by 213.7percent to 153kobo from 49kobo.

Conoil Plc with a free float percentage of 24.26percent as at June 30, 2021, is compliant with The Exchange’s Free Float requirements for the companies listed on the Main Board.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

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