By InvestAdvocate
Lagos (INVESTADVOCATE)-Oil marketing firm, Forte Oil Plc on Thursday said its profit after tax (PAT) for the period ended September 30, 2016 declined 34.7 percent to N2.79 billion from N4.28 billion recorded a year ago.
Profit before tax (PBT) of the company rose 6.5 percent to N5.63 billion from N5.28 billion recorded the nine-month period of 2015.
Revenue increased from N91.61 billion in the third quarter of 2015 to N121.08 billion in the review period of 2016; indicating a growth of 32.2 percent, Forte Oil said in a filing with the Nigerian Stock Exchange (NSE).
Shares of the oil marketing company at the close of the trading session on the Nigerian bourse declined 4.82 percent to N152.00 from N159.69 traded the previous session; showing a loss of N7.69 per share.
