June 23, 2022

By Evans Charles

Lagos (INVESTADVOCATE)-Oil marketing major, Oando Plc on Wednesday said its pretax profit for the fourth quarter (Q4) 2020 Unaudited results for the period ended December 31, 2020 declined -64.6 percent to N133.43 billion from N337.41 billion reported the same period of 2019.

Similarly, profit after tax (PAT) also dipped by 36 percent to N132.57 billion from N207.1 billion reported the same period of 2019.

Also, revenue depreciated from N576.6 billion in the 2019 year end to N489.98 billion in the review period of 2022 ; showing a decrease of 15 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 1.38 percent to N5.78 compared to N5.70 recorded the previous session; losing 0.08kobo per share.