Eterna Plc, an integrated energy provider, reported a gross profit of N4.1 billion for the six months ending June 30, 2022.
This was a 57.9% rise from the N2.6 billion gross profit earned in the comparable period of 2021, stated in a statement on its half-year financial accounts posted on the floor of the Nigerian Exchange Limited.
According to the announcement, the group’s profit before taxes climbed by 200%, from N525 million recorded in 2021 to N1.5 billion, representing an operating profit of N1.9 billion.
It further stated that the group’s total assets for the reviewed period were N58 billion, and its total liabilities were N45 billion.
According to the statement, it has a network of filling stations and manufactures, markets, and distributes lubricants and chemicals. It intends to further expand its retail network throughout the nation.
The statement said, “It plans to actively play across the energy value chain covering the production, transportation, and distribution of energy solutions vital for economic growth and development.”