AP and Oando release first quarter results.
May 19th, 2008 Ugonna Maduagufor || ugonna@stockmarketnigeria.com
(by Ugonna Maduagufor)
Two companies African Petroleum Plc and Oando Plc, both listed under the oil sector of the Nigerian Stock Exchange in 1978 and 1992 respectively, recently released there first quarter ended 31st December 2008 results. AP posted a PROFIT AFTER TAXATION of N2.390b as against a year 2007 comparable period of N1.473b indicating 62.15 percent growth. Others included a TURNOVER of 35.111b against a previous year 2007 comparable periods figure of N26.151b indicating 34.26 percent growth; a PROFIT BEFORE TAXATION of N3.186b as against a previous year 2007 comparable periods figure of N2.105b showing a 51.34 percent increase. The company dividend payout due to her earlier released result for year ended 31st December 2007 was N7.00 per ordinary share.
OANDO PLC on the other hand also posted her first quarter ended 31st March 2008 result, showing: a PROFIT AFTER TAXATION of N1.399b which is a 30 percent growth on her year 2007 comparble period figure of N1.073b. Other features of the result includes: a TURNOVER of N69.363b against a year 2007 comparable periods figure of N46.949b showing a 48 percent improvement; a PROFIT BEFORE TAXATION of N1.768b as against previous year comparable period posting of N1.342b being a 32 percent improvement. The company had earlier proposed a dividend payout of N6.00 per ordinary share and a bonus issue of 1 for 5 ordinary share during the release of her result for year ended 31st december 2007, closure date being scheduled for between 12th to 16th of May 2008.
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