Conoil reports N38bn turnover in Q1 2020

Adebayo Obajemu

The Unaudited financial statement for the first three months ended March 31st , 2020 of Conoil revealed a growth of 7.03% in topline figures to close the period at N38.144 billion away from N35.637 billion reported same period the previous year in 2019.

The first quarter reports which hit the market on the 30th June, 2020 showed a drop of about 20% in Profit after Tax to N260 million from N325 million recorded in the preceding year of 2019.

The Earning per share for the period under review also dropped from 47 kobo I to 38 kobo in the current report, implying a decline of 19.93%.

The PE Ratio for the current period stands at 31.98x and the earnings yield at 3.13%.