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Ardova's quarterly profit rises to N850.21m - Punch Newspapers

Punch Newspapers
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’Femi Asu
Published 11 May 2021
Ardova Plc, formerly Forte Oil Plc, has reported a profit after tax of N850.21m for the first quarter of 2021, up 70.91 percent from N497.45m in the same period last year.
The integrated energy company’s profit before tax rose by 108.1 per cent to N1.21bn in Q1 2021 from N580.30m in Q1 2020.
Its revenue, however, declined to N41.65bn from N52.05bn, according to its unaudited financial statements for the period ended March 31, 2021.
Ardova’s shareholder funds increased by 4.7 per cent to N19.1bn from N18.2bn at the end of December 2020, while its total assets fell to N62.3bn from N62.4bn. ....

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Total, Conoil, 11plc, other fuel marketing companies reports N331.54bn revenue drop for FY'20

Total, Conoil, 11plc, other fuel marketing companies reports N331.54bn revenue drop for FY'20
naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.

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Fuel marketing companies suffer N331.54bn revenue drop

Fuel marketing companies suffer N331.54bn revenue drop
punchng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punchng.com Daily Mail and Mail on Sunday newspapers.

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Ardova Plc Records N3.2 Billion Profit, to Pay 19 Kobo Dividend

By Goddy Egene
Shareholders of Ardova Plc (formerly Forte Oil Plc) are to receive a dividend of N249 million for the year ended December 31, 2020, translating to 19 kobo per share.
Directors of the integrated energy company recommended the dividend last week upon the release of the firm’s audited results. AP Plc recorded a revenue of N181.7 billion in 2020, up 2.9 per cent from N176.6 billion in 2019. Despite the high cost of doing business, operating expenses was reduced from N10.7 billion to N9.2 billion leading to an increase in gross profit to N12.131 billion, compared with N11.282 billion in 2019.
Net finance cost jumped from N270.2 million to N1.1 billion, while profit before tax (PBT) printed at N3.2 billion as against N4.7 billion in 2019, while profit after tax (PAT) stood at N2.1 billion compared with N3.9 billion in 2019. ....

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Investors lose N120bn as stocks resume decline

Punch Newspapers
Sections
’Femi Asu
The Nigerian stock market, which began the month on a positive note, resumed its decline on Tuesday as 26 firms recorded price losses at the end of trading.
The Nigerian Stock Exchange All-Share Index had risen by 0.33 per cent after investors on Monday, the first trading day of the month, after February saw investors record a total loss of N1.37tn.
But the benchmark index, ASI, fell by 0.59 per cent on Tuesday to 39,697.62 basis points from 39,931.63bps on Monday.
The market capitalisation of equities dropped by N120bn to close at N20.77tn on Tuesday from N20.89tn on Monday. ....

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