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11 Plc (Mobil) posts N54bn as turnover in Q1 2020

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Exxon renews Nigeria deepwater oil licenses for two decades

Adebayo Obajemu

11 Plc (formerly Mobil) on Monday published its first quarter report for the period ended 31 March, 2020.

In the first quarter of 2020, the oil & gas company reported gross revenue of N54.279 billion, soared by 17.81% when compared with N46.072 billion reported in Q1 2019.

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Profit after tax for the period under review was N1.284 billion, down by 37% when compared the profit after tax of N2.039 billion in Q1 2019.

The earnings per share of the firm stands at N3.56 kobo, declined by 37.02% from the earnings per share of N5.66 in Q1 2019.

With reference to the share price of N213.90, the P.E ratio as calculated stands 60.04x with earnings yield of 1.67%.

 

 

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