Adebayo Obajemu

Conoil Plc on Monday published its Audited Financial Statement for the year ended 31 December 2020.

The report shows decline in the company’s top line and bottom line figures, year on year.

Conoil reported a turnover of N117.47 billion, down by 15.9% from N139.758 billion reported in 2019.

Profit after tax declined by 27% year on year to N1.44 billion from N1.972 billion reported the previous year.

Earnings per share decreased to N2.08 from the earnings per share of N2.84 reported in 2019.

At the share price of N18.7, the P.E ratio of Conoil stands at 9.01x with earnings yield of 11.1