Oando Plc maintains the lead.
October 31st, 2006 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
Ogbuotobo Chuks
The handwriting on the wall is so clear for all to see that Oando Plc is indeed a company to reckon with. The company over the years has maintained its leadership position as the largest petroleum marketing company in Nigeria. This was why the company was awarded petroleum marketing company for the year 2001, 2003 and 2004 by the Nigerian Stock Exchange.
The company has since the year 2000 grown its revenue profile by over 304 percent. Also, the company can boast of having the most diversified shareholder base of over 300,000 shareholders. The company presently has a market capitalization of about N55 billion, thereby making it one of the top Nigerian controlled companies on the floor of the stock exchange.
In its 2005 financial year, turnover grew by over 40 percent from N 85.9 billion in 2004 to N121.6 billion in 2005. The company also maintained a 113percent increase in profit before tax as this figure grew from N988.4 million in 2004 to N2.1 billion in 2005. It is believed that the company would rake in revenue in excess of N260 billion in its 2006 financial year.
Analysts are of the opinion that the company is being run by seasoned professionals and this is why they are making giant strides.
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