Mobil Oil Nigeria records 39% profit decline


fbcbf5f399e9ab147dffd65322be999bee8c360aMobil Oil Nigeria Plc has posted a 25.3 per cent decline in third quarter (Q3) 2015 revenue to N45.326 billion from N60.718 billion recorded in the prior period of 2014.

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The financial results of the company for the period ended 30th September 2015 published by theNigerian Stock Exchange today showed that profit before tax fell 33.5 per cent to N5.248 billion from N7.895 billion, while profit after tax reduced 39 per cent to N3.650 billion from N5.996 billion posted in the same period of 2014. Earnings per share also dropped 39 per cent to N1,012 from N1,663 per share.

Net assets increased by 9 per cent to N14.819 billion from N13.549 billion. The company’s share is listed under the Oil and Gas Sector of the NSE, and it’s currently traded at N154 per share. It has N55.5 billion in market capitalization and 360.6 million shares outstanding.

Babatunde Akinsola
Babatunde Akinsola
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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