By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Japaul Oil & Maritime Services Plc said on Monday it posted a loss of N490.6 million in the third quarter (Q3) report ended September 30, 2014 compared to a positive of N485.5 million recorded in the (Q3) of 2013; showing a loss of 201.1 percent, the company said in a filing with the Nigerian Stock Exchange.

In the same vein, profit before tax was the same margin as the oil servicing company declared a loss of N490.6 million compared to N485.5 million reported in the same period of 2013.

Japaul oil recorded a drop in turnover as it reported N8.291 billion compared to N9.609 billion in the corresponding period of 2013; indicating 13.7 percent decline.