₦airaland Forum

Conoil Plc on Thursday reported a growth of 176 percent in profit and announced a 200 percent rise in dividend for the year ended December 31, 2015.

The company recorded a pre-tax profit of N3.448 billion in 2015, an increase of 125 percent from N1.532 billion recorded in 2014.

Despite the challenging environment, the petroleum products marketing company recorded N2.307 billion profit after tax, a 176 percent increase from the N834 million recorded in 2014.

Earnings per share also jumped by 177 percent from 120 kobo in 2014 to 333 kobo in 2015.

The company attributed its success to efficient management of resources, effective cost control policy, as well as reaping from its huge investment in the expansion and upgrade of its facilities.

“For us, the downstream sector remains fundamentally attractive and viable today and the future. With our clarity of direction and focus, our company’s long-term success is assured. We will sustain this improved performance and vigorously pursue our aspiration to remain the nation’s leading petroleum products marketer and one of the most profitable quoted companies,” the company said.

Following this impressive performance, the company has proposed a dividend of N2.08 billion, translating to 300 kobo per share compared with the 100 kobo paid in 2014.

http://investorsking.com/conoil-grows-profit-by-176-to-n2-3bn/

Ok
you can be your own boss in few months check my signature

How come? Abi Conoil no de ds Nigeria. Abi Buhari no follow be their president ni. Abi dem no de use dollar ni. Abi ds change no reach their side ni. Abi na Tinubu getam ni. One must be d answer.

Nice. Very Nice
The official price of petrol in 2014 was N97. Availability of prducts and an enabling environment meant healthier competition. In other words, Conoil did a massive job to remain on top.

We know the prices we've paid for petrol in the period under review. At a time, we were paying more than twice the official price of 2014. How many oil companies survived the economic noose?

The profit is commendable and at the expense of the masses

who dem epp

And someone will blame d government for everything.capitalism is a curse..the rich exploiting the poor

That is baba Ijebu's company.

Someone always profits. Even during war

The huge growth especially in the current petroleum market means that this company might actually have access to forex at the official rate.

Nice one....recession no dey affect this one...God bless us

Reminds me of the story of Isaac in Genesis 26.

When others were crying of famine, he was reaping 100 folds.

Congrats to them!

Hmmmmmmm.......... recession no reach there side

More money!

Of course @ N140/litre, what do you all expect?

Apc must be involved in this company

Gud to knw dat a company is surviving in this harsh condition

Ekakamba:
PMS companies and pro.fit be like....

You don get another one

im not surprised...'CONoil'....thieves everywhere

These people are making a lot of money from downstream operations. How won't they grow after reaping us off on a large scale with the so called Liberalization policy? They'll still be the ones to agitate for increased fuel price tomorrow so they can make more profits for shareholders. Wicked people.
#ChangeBeginsWithPetroleumMarketers

I knew it, in the recession time the rich will still get richer.

hmmm

t

VhatAmazingDude:
Nice. Very Nice
The official price of petrol in 2014 was N97. Availability of prducts and an enabling environment meant healthier competition. In other words, Conoil did a massive job to remain on top.

We know the prices we've paid for petrol in the period under review. At a time, we were paying more than twice the official price of 2014. How many oil companies survived the economic noose?

The profit is commendable and at the expense of the masses

I don't think conoil ever sold above normal price during the fuel scarcity. They sold a lot though hence the high profit

I thought they said nothing is working in this Buhari economy?

Oya zombies com n masturbate on how buhari has made life beta

When tinubu oando was posting losses because the used the money to fund buhari's campaign.

VhatAmazingDude:
You don get another one

Truth234:
Conoil Plc on Thursday reported a growth of 176 percent in profit and announced a 200 percent rise in dividend for the year ended December 31, 2015.

The company recorded a pre-tax profit of N3.448 billion in 2015, an increase of 125 percent from N1.532 billion recorded in 2014.

Despite the challenging environment, the petroleum products marketing company recorded N2.307 billion profit after tax, a 176 percent increase from the N834 million recorded in 2014.

Earnings per share also jumped by 177 percent from 120 kobo in 2014 to 333 kobo in 2015.

The company attributed its success to efficient management of resources, effective cost control policy, as well as reaping from its huge investment in the expansion and upgrade of its facilities.

“For us, the downstream sector remains fundamentally attractive and viable today and the future. With our clarity of direction and focus, our company’s long-term success is assured. We will sustain this improved performance and vigorously pursue our aspiration to remain the nation’s leading petroleum products marketer and one of the most profitable quoted companies,” the company said.

Following this impressive performance, the company has proposed a dividend of N2.08 billion, translating to 300 kobo per share compared with the 100 kobo paid in 2014.

http://investorsking.com/conoil-grows-profit-by-176-to-n2-3bn/

.......that's y in d book ,rich dad poor dad ,the writer said that poor will continue to get poorer and the richer getting richer ,what a life. . ...when everybody is shouting, ole,ole,hard times ,hard times ,some people are silently being turn to a millionaire.....