Mobil Oil Nigeria Posts Half Year Pre-Tax Profit of N3.68 bln

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  • MOBIL OIL NIGERIA PLC has reported Half Year Turnover of  N56.22 billion versus. N50.26 billion for full year.
  • Half year basic earnings per share of 686 kobo

Mobil Oil plc has reported 45% slump in profit to NGN2.4 billion in second quarter 2017 compared to NGN4.4 billion recorded in the same quarter financial year 2016.

Mobil Oil had a total turnover of NGN56.2 billion in the period under review compared to NGN50.2 billion posted in the previous year while costs of sales was NGN49.3 billion against NGN41.1 billion in the year 2016.

The company ended the quarter with a lower gross profit of NGN6.8 billion in contrast to NGN9.1 billion in the fiscal year 2016 while operating profit was also lower at NGN5.6 billion against NGN6.4 billion in the year 2016.

Total asset fell to NGN58.0 billion in contrast to NGN61.7 billion recorded in the year before while total liabilities was NGN35.7 billion against NGN40.2 billion in the year before.

 

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