Adova Plc
Ardova Plc

Adebayo Obajemu

The Board of Directors of Ardova Plc in its financial report for the year ended 31 December 2020 proposed a final dividend of 19 kobo to its shareholders from the retained earnings account as at 31 December, 2020.

The Group reported a turnover of N181.94 billion. Cost of sales for the 12 months period was N169.81 billion, bringing their Gross Profit to N12.13 billion.

The Oil firm reported Profit before Tax of N2.905 billion for the period under review. About N1.048 billion was spent on taxation, bringing Profit after tax to N1.86 billion.

With shares outstanding of 1,302,481,103, the earnings per share of Ardova Plc stands at N1.43.

At the referenced share price of N16.25, the P.E ratio of Ardova Plc stands at 11.39x with earnings yield