Q2, 2012 Earnings: ConOil Net Income Slumps by 81%
ConOil, an indigenous petroleum marketing company, released its q2, 2012 to the Nigerian Stock Exchange on Monday.
Turnover fell by 4.6% to N 76.2 billion, from N 79.9 billion recorded in Q2, 2011.
Gross Profit dipped 18.4% to N7.7 billion, from N 9.5 billion recorded in Q2, 2011.
Finance Costs increased by 119.7% to N1.3 billion from N 627 million over the Q2, 2011 period.
Profit before Tax slumped by 81% to N663 million from N3.5 billion over Q2, 2011 period.
Net Income also slumped by the same margin to N450 million from N 2.38 billion over Q2, 2011.
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