Conoil’s profit up by 329% in 2013

According to the result released to the Nigerian Stock Exchange (NSE) on Friday in Lagos, Conoil profit after tax surged by N2.355 billion, representing 329.38 per cent over N714.981 million recorded during the same period of 2013 to end 2013 financial year with N3.070 billion.
The company’s financials showed a profit before tax of N4.576 billion for its 2013 financial year, a 298.26 per cent rise when compared to the profit before tax it recorded in the comparable period of 2012.
The revenue of Conoil in the period under review rose from N149.993 billion in 2012 to N159.537 billion, representing an increase of N9.544 billion or 6.36 per cent.
Other operating income went up from N266.317 million in 2012 to end 2013 financial year with N2.550 billion, representing an increase of N2.284 billion or 857.51 per cent.