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ConOil Posts Huge 3Q Numbers, Revenue Up 85.6%
By Afolabi Ogunde on November 3, 2011
ConOil a leading indigenous player in the oil and gas sector is having a very productive year.
According to their 3Q numbers, turnover is up 85.6% to N 120 Billion from only N 64 Billion a year ago.
Profit Before tax is up 78.5% to N 4.56 Billion from N 2.56 Billion at the end of 3Q, 2010.
Net Income also rose to N3.01 Billion, up 78% from N 1.7 Billion over the same period last year.
The company’s stock price is currently trading at N 35, down 4% from the beginning of the year.
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