Despite a challenging local environment, Oando Plc has been able to maintain a trend by posting positive results for the third consecutive year with N28.8 billion Profit-After-Tax in its audited results for the year ended December 31, 2018.
Turnover increased by 37 per cent to N679.5 billion compared to N497.4 billion in 2017, driven primarily by higher oil prices resulting in higher oil revenue and higher gas prices, which led to higher gas revenues. In addition, gross profit grew by nine per cent to N96.3 billion from N88.1 billion in 2017.
From a N473.3 billion corporate facility in 2014 to N210.9 billion in 2018, a 55 per cent decrease and in its upstream business, the company has reduced its debt by 70 per cent from $801.6 million in 2014 to $260 million as at 2018. He hinted at the prospect of a dividend payment in the near future, saying “We remain confident in our ability to deliver significant value to shareholders in the years ahead as well as resuming our dividend payments.”
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BREAKING: N8.7bn debt: Innoson Motors moves to take over GTBank - Daily Post NigeriaInnoson Nigeria Limited, Nigeria's indigenous vehicle production company, has instituted a move to take over Guaranteed Trust Bank, GTB, following a ruling 😎😎😎😎😎 Gtbank it would have been better to loose the battle and win the war. I guess it is too late now. Innoson, according to an insider that knows him confided in me that, he is a v patient man. He can follow a case for life especially when he is very sure that, he will scale thru. I pity Jimi Agbaje bros He was warned but Yoruba factor against an Ibo man made him to fall in a pit
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