By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Oil marketing major, Oando Plc on Friday said its pretax profit for the audited period ended December 31, 2014 declined 24, 121.5 percent to N171. 32 billion from N713.21 billion recorded a year ago.

Similarly, profit after tax (PAT) also dipped woefully by 13, 264.1 percent to N183.89 billion from N1.38 trillion reported the same period of 2013.

Also, revenue inched down from N449.87 billion in 2013 audited year end to N424.67 billion; showing a decrease of 5.6 percent, the company said in a filing with the Nigerian Stock Exchange (NSE).

At the close of today’s trading on the Nigerian bourse, share price of Oando dropped 4.23 percent to N9.96 from N10.40 recorded the previous session; losing 0.44 kobo per share.

InvestAdvocate would in its usual manner run a Question and Answer Session with Wale Tinubu, the chief executive officer (CEO) of Oando Plc captured at a media parley with capital market journalist explaining reasons for the dismal perfomance.