Adebayo Obajemu

Conoil Plc on the 6th of August, 2020 released its unaudited financial results for the period ended 30th June 2020. The result revealed that the Company declined in Revenue by 20.44% to arrive at N57.456 billion against the previous’ N72.219 billion in the corresponding period of 2019.

The Profit after Tax (PAT), also dipped by 67.20% to close the period at N338.7 million against the previous close of N1.033 billion in HY’19.

With about 693 million Share outstanding, the Shareholders’ earnings per share fell by about 57% to close at N0.49 below N1.49 recorded same period last year.

At a reference price of N16.90, the company’s PE Ratio is at 34.63x with earnings yield of 2.89