By InvestAdvocate

Lagos (INVESTADVOCATE)-Oil marketing firm, Forte Oil Plc on Thursday said its pretax profit for the nine months period ended September 30, 2015 inched up 1.6 percent to N5.288 billion from N5.204 billion recorded a year ago.

Similarly, profit after tax (PAT) grew 6.7 percent to N4.285 billion from N4.015 billion recorded the same period of 2014.

However, revenue dropped from N122.58 billion in the Q3 of 2014 to N91.61 billion in the review period of 2015, indicating a decline of 25.3 percent, Forte said in a filing with the Nigerian Stock Exchange (NSE).

Shares of the company at the close of trading dropped 5.00 percent to N297.83 per share from N313.50 per share recorded the previous session.

Meanwhile the company has recommended a N3.45 kobo per share dividend to its shareholders.