OANDO PLC Q3 2018 RESULTS

OANDO Declares a N10.93bn PAT IN Q3 2018 RESULTS
  • Revenue for the period was N505.1 billion, an increase of 32% in Q3:2017 (N383.5 billion). This was primarily driven by an increase in commodity prices.
  • Gross Profit for the first nine month stood at N77.6 billion, an increase of 9% compared to the same period in 2017 (N71.2 billion).
  • ┬áPAT for the period was N10.4 billion, an increase of 46% compared to the same period in 2017 (N7.1 billion).
  • Oando reported that its Total Group Borrowings decreased by 4%, N227.2 billion compared to N237.4 billion (FY 2017)
  • The Stock price is currently trading at N5.05. Year-to-date, Oando have performed broadly in line with the index.The shares have shed -15.6% compared with the -14.95% return on the NSE ASI.
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