• Friday, December 08, 2023
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Conoil’s half year profit rises by 213.7%, share price down 11.3% YtD

Conoil rewards shareholders with N1.73bn dividend as earnings grow

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.

Read also: Oil majors’ divestment: How local operators can finance deals

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.