Okomu Oil palm Plc Releases half year result
December 16th, 2007 Tunde Brown || tunde.brown@stockmarketnigeria.com
By Tunde Brown
The half-year results for the period ended, 30th June 2007 for Okomu Oil Palm Plc was released on the floor of the Nigerian Stock Exchange last week. The company, which is in the agro-allied industry, put up a remarkable performance, growing its bottom line by over thirty percent.
The company’s turnover increased by 16.73 percent to N1.93 billion this year, up from N1.65 billion in the corresponding half-year period in 2006. The profit after tax in the same way, increased by 34.03 percent to N571.32million from N426.27million, in the comparable period in 2006. The earning per share was enhanced from 55k in the first quarter, to N1.20 as at half-year end (2007).
Analysts expected that this noteworthy performance would be consolidated upon in the second half of the year, as the company heads towards the end of its financial year. It is equally anticipated that its full earning per share would attain the region of N2.60 by year-end.
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