(Correction: The Headline should read pretax profit and not post tax profit)

By InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian Oil marketing giant, Forte Oil Plc on Wednesday reported its post tax profit climbed up 61.6 percent to 5.203 billion naira in its nine months period ended September 30, 2014 compared with 3.219 billion naira recorded in the same period of 2013, the company said in a filing with the Nigerian Stock Exchange (NSE).

Similarly, pretax profit increased 46.7 percent to 4.015 billion naira from 2.737 billion naira posted in the corresponding period of 2013.

Revenue also grew 33.1 percent to 122.580 billion naira from 92.125 billion naira in the third quarter of 2013.

However, basic earnings per share (EPS) of the oil marketer declined 19.0 percent to 2.04 naira from 2.52 naira reported in the Q3 of 2013.

At the end of trading on the Nigerian bourse, share price of Forte Oil gained 9.00 naira appreciating 4.31 percent as it opened at 209 naira and closed 218 naira.