Forte Oil PLC Nigeria's today announced unaudited results for the nine months period ended 30 September, 2013 with the following highlights:

     

    Financial Highlights:

    • Profit -Before-Tax of N3.2 billion recording a 258% increase compared to N0.9 billion same period in 2012
    • Profit-After-Tax increased 317% to N2.7 billion compared to N0.7 billion delivered same period in 2012
    • Revenue increased 29% to N92 billion compared to N71billion recorded same period in 2012
    • Earnings per share increased 317% to N2.54.

     

    Operational Highlights:

    • Focus on its ‘Business Transformation Programme' which includes strategic retail business expansion, growing of its commercial customer base and Non-fuel revenue activities.
    • Increased Revenues from the sale of refined petroleum products - Premium Motor Spirit (PMS or petrol), Automotive Gas Oil (AGO or Diesel) Aviation Turbine Kerosene (ATK) and Premium Quality Grade Lubricants
    • Improved and optimised logistics across its entire distribution network
    • Streamlined Business Processes to improve overall business efficiency and consequently superior customer service delivery

     

    The Group's profitability outperformed its third quarter projection of N2.6 billion profit after tax. In the same vein, the N92bn revenue recorded in Q3 2013 also surpassed the N78bn expected in the period under review, as the group pushed to regain market share.

    Source: Press release

     

    MARKET STATUS: CLOSED

    loading...
    Gainers
    Decliners
    Volume
    VETIVA S&P NIGERIA SOVEREIGN BOND ETF300.00+50.00%17/05
    PZ CUSSONS NIGERIA21.60+9.92%17/05
    JULIUS BERGER NIGERIA79.30+9.53%17/05
    STERLING FINANCIAL HOLDINGS4.48+6.67%17/05
    FCMB GROUP7.00+5.26%17/05
    GREENWICH ALPHA ETF720.00-10.00%17/05
    TRANSCORP HOTELS92.00-9.72%17/05
    N.E.M. INSURANCE8.45-9.63%17/05
    ETERNA11.15-9.35%17/05
    TANTALIZERS0.50-9.09%17/05
    ACCESS HOLDINGS17.0025,614,03617/05
    GUARANTY TRUST HOLDING39.9013,772,66017/05
    UNITED BANK FOR AFRICA21.855,634,96717/05
    GUARANTY TRUST BANK29.555,583,62512/07
    FBN HOLDINGS22.955,317,28417/05

    🇳🇬 Nigerian Naira



    african indices

    BRVM-CI220.13+0.33%17/05
    BSE DCI9,151.06-17/05
    DSE ASI1,777.70-0.17%17/05
    EGX 3026,142.84+3.27%16/05
    GSE-CI3,744.97+0.32%17/05
    JSE ASI79,530.63+0.03%17/05
    LuSE ASI12,871.39-17/05
    MASI13,426.13+0.11%17/05
    MSE ASI113,694.34-17/05
    NGX ASI98,125.73-0.03%17/05
    NSE ASI110.51+1.21%17/05
    NSX OI1,754.58+0.81%17/05
    RSE ASI144.91-17/05
    SEM ASI2,006.67+0.24%17/05
    TUNINDEX9,177.79+0.60%17/05
    USE ASI1,051.71-0.21%16/05
    ZSE ASI94.65+0.71%17/05