Oando reports N4.5 billion profit for second quarter

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Oando Plc is reporting NGN4.5 billion profit for second quarter 2017 compared to NGN26.9 billion loss reported same quarter in the financial year 2016.

Onado ended the quarter with NGN266.9 billion revenue as a group in contrast to NGN116.2 billion it ended the previous year with while gross profit was NGN33.4 billion against NGN5.0 billion posted in the year before.

Oando plc’s total assets at the end of the period was NGN1.0 trillion in contrast to NGN991.5 billion in the year before while total liabilities was NGN830.4 billion against NGN799.2 billion in the year before.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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