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Forte Oil Records Increased Profit Of N4.01bn In Nine months

Indigenous oil producer, Forte Oil Plc has posted its nine-months result which ended September 30, with profit after tax soaring 46.72 per cent to N4.01 billion as against N2.73 bil­lion recorded in the corresponding period last year.

Forte oil also recorded a 175 per cent jump in operational profit to N5.5billion compared to N2billion the year before just as the Pre-tax profits also increased 61.6 per cent to N5.2billion compared to N3.2billion the year earlier.

Its revenue also appreciated 33.1 per cent to N122.58 billion from N92.125 billion record­ed the same period in 2013 just as its company’s gross profit remained at N13.2 billion as against N8.5 billion re­corded in 2014.

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