Conoil Plc approves N1.7bn dividend to shareholders

Conoil Plc on Monday published its unaudited mid-year Financial Statements for the year ended 30 June, 2023. The report shows a growth in the company’s topline and bottom line figures.

A turnover of N87 billion was reported for the six months period, up by 54.93% from N56 billion reported the previous year.

Conoil declared a profit after tax of N6.3 billion as against N1.8 billion declared the previous period. This represent 245.15% growth when compared to the loss recorded the previous year.

Earnings per share (EPS) of the company for the period under review improved to N9.01 from the EPS of N2.61.

At the share price of N110.00, the P.E ratio of Conoil stands at 12.20x with earnings yield of 8.19%.

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