By InvestAdvocate

Lagos (INVESTADVOCATE)-Oil Marketer, Conoil Plc Tuesday posted 85 percent (85%) declined in its Profit After Tax (PAT) for the Period Ended September 30 2012.

This is contained in the Result Announcement of the Company to the Nigerian Stock Exchange (NSE) and made available to www.investadvocateng.com in Lagos Nigeria.

To record the decline in PAT, Conoil posted N476 million in Q3 of 2012 compared to N3.095 billion declared in the review period of year 2012.

Profit Before Tax (PBT) also declined by the same margin 85% as the Company recorded N699 million in Q3 of year 2012 compared to N4.552 billion in the same period of year 2011.

Similarly, Turnover declined slightly by 4.6% as Conoil recorded N115 billion in year 2012 Q3 compared to N120 billion recorded in the corresponding period of year 2011.

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