Indigenous oil firm, Conoil Plc has declared a half year Profit Before Tax, PBT of N1.566 billion for the unaudited results ended June 30, 2016, representing a 196 per cent growth from N528.5 million recorded in the corresponding period of 2015.
According to the result released on the Nigerian Stock Exchange, NSE, over the weekend, Conoil’s Earnings Per Share, EPS rose from 52 kobo to 150 kobo, representing an increase of 190 per cent.
Conoil maintained its last year’s impressive performance with yet another laudable outing for the first half of 2016, posting a 190 per cent jump in profit after tax from N359.4 million in 2015 to N1.04 billion in 2016.
The company also declared N2.08 billion last year, translating to the N3 on every 50kobo ordinary share for the 2015 financial year, compared to N1 paid in 2014.
In the meantime, Conoil investors have yielded a return of 34 per cent in the last two weeks, as the equity appreciated in value, following a recent surge in the demand for its stock by investors.
