By Our Correspondent
Lagos (INVESTADVOCATE)-Capital Oil Plc Wednesday announced it posted Losses in its 2011, 2010 and 2009 Audited Results released to the Nigerian Stock Exchange (NSE) in Lagos Nigeria.
As contained in the result presentation to the NSE and made available to www.investadvocateng.com, Capital Oil for the Audited Report for the Period Ended December 31 2009 posted a negative Profit After Tax (PAT) of -N233.16 million compared to a negative -N31.41 million recorded in year 2008; indicating a Loss of 491.6 percent (-491.6%) in the review period.
Profit Before Tax (PBT) for the 2009 Audited Result was a negative of –N229.035 million compared to a negative of –N37.649 million recorded in 2008; showing a Loss of -504%.
However, Turnover grew by 343.3% as the Company recorded N1.142 billion compared to N257.595 million recorded in year 2008.
In year 2010, Capital Oil reported a negative PAT of -N324.782 million in 2012 end compared to a negative PAT of –N233.163 million in year 2009; indicating a Loss of -39.3%.
While PBT was a negative of -N311.473 million in year 2010 compared to -N229.035 million posted in year 2009 end; showing a Loss of -36.0%.
Similarly, the Company posted a negative Turnover of -N144.821 million in 2010 end compared to a negative -N1.142 billion in 2011; representing a -87.3% Loss.
In year 2011 end, PAT of Capital Oil was a negative –N98.160 million compared to –N324.782 million in 2010, showing a Loss of -69.77%.
PBT in the review period was a negative –N39.503 million compared to a negative -N311.472 million in 2010 end; indicating a Loss of -87.31%.
While Turnover increased from N144.821 million in 2010 compared to N1.296 billion in the review period of 2011; showing an increase of 795.25%.
Capital Oil is one of the Companies on the X-Compliance Report of the Nigeria’s Exchange rated as a Firm restructuring to regularise its post-listing status on the NSE.
Recently, www.investadvocateng.com gathered from unconfirmed sources that a popular man of God in Nigeria (name withheld) has acquired and taken over the Company.
