In the recent Forte Oil Plc unaudited Q3 ended September 30th 2017 report, revenue fell by 20%.
Net income came in higher by 81.4% against comparable period of 2016. It was essentially due to an 82% reduction in tax paid.
Highlights:
Decline in Revenue was significantly impacted due to a 41% reduction in its Fuels business, which involves sales & distribution of petroleum products and ATK to its clients.
Cost of sales and Distribution expenses both went down by 24.3% and 57% respectively.
Pre-tax profit weakened by 0.8% due to the 84.5% expansion in net finance cost.
However, Profit after tax received a boost, experiencing a growth of 81.4%. This occurred as a result of an 82% dip in tax paid.
Q3 2017 EPS stood at 50K compared to ₦2.27k the previous year representing a 78% decline, despite the huge increase in PAT. This occurred as 87.1% from the total profit realized was returned to non-controlling interest holders.
Shareholders’ fund grew by 5.57%.

Kindly find in the link the Corporate Brief of the firm.

SOURCE: https://brandspurng.com/forte-oil-plc-q3-result-ended-sept-2017-profit-after-tax-experienced-a-growth-of-81-4/

81.4% ?
Oil business.

82% Net income, yet it didn't have any effect on the economy.

like for Fayose - share for Buhari.

G

Business keeps booming.

Believe these figures at ur peril. Only a ploy to get pple to come invest in a heavyly indebted company . otedola go nd pay ya loan and stop restrurcturing

This is why we need restructuring, so that we can allocate our oil block to the Niger deltans.

Both SuperVisco & Visco2000 quality has been reduced so why won't you experience miraculous profits

we really need restructuring

https://www.youtube.com/watch?v=azFjI2Parho

90% of Yorubaa so-called billionaires made their money from Niger Delta oil.

waheva

Life just become more Eazy for Mr Eazy.

S

libertyhope2017:
90% of Yorubaa so-called billionaires made their money from Niger Delta oil.

did you see the bolded, MADE!!! They cashed out already whilst you are there crying... O Boy, go find wetin go give you money and stop to dey complain. Why you no quick make the money.. because you lack foresight!

Bigger profit after 2019, the company has been appointed as the sole distributor for Dangote refinery.

Capitalism, here I come.

libertyhope2017:
90% of Yorubaa so-called billionaires made their money from Niger Delta oil.

Otedola does not own an oil block.

Rather, he is the largest importer of diesel into Nigeria. Only Alakija is fully guilty of your assertions.

grandstar:


Otedola does not own an oil block.

Rather, he is the largest importer of diesel into Nigeria. Only Alakija is fully guilty of your assertions.

He owns oil blocks indirectly; awarded to companies with interest.

Jisos! Isn't that too much? Gosh, kudos to the last consumers who gave credence to this claim. May God continue to replenish your purses. May Buhari receive sense in Jesus name.

tripleY:
81.4% ?

Oil business.

Do the books in dollars and you will see there was no growth , our naira is not stable enough to be used in computing P&L books

libertyhope2017:
90% of Yorubaa so-called billionaires made their money from Niger Delta oil.

VICTIM MENTALITY.

More money for DJ cuppy