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Mobil Oil revenue slumped by N25.4bn in 2015

Mobil Oil Nigeria Plc has said that its revenue for the year ended 31 December, 2015 dropped significantly by N25.363 billion (representing 31.87 per cent).…

Mobil Oil Nigeria Plc has said that its revenue for the year ended 31 December, 2015 dropped significantly by N25.363 billion (representing 31.87 per cent).
The petroleum concern reported N54.220 billion in 2015 as against N79.584 billion it made in 2014.
The gross profit of Mobil Oil Nigeria rose by N253.752 million which was as a result of drop in its cost of sale in 2015.
Also, operating profit of the firm increased from N5.622 billion in 2014 which rose to N6.955 billion at the end of 2015 financial year.
It’s profit before tax slumped by N1.540 billion from N8.446 billion to N6.906 billion in 2015.
Mobil reported a decline of N1.520 billion profit after tax in its full year 2015 financial results translated to 23.77 per cent.
According to the results, profit after tax dropped from N6.393 billion it made in 2014 to end 2015 at N4.873 billion.
Earnings per share of the oil and gas firm also dropped by 23.80 per cent from 1,773 kobo in 2014 to 1,351 kobo at the end of December 2015.
Total assets of the firm rose from N49.227 billion in 2014 to N54.072 billion at the end of 2015, accounting for N4.846 billion or 9.84 per cent.
However its total liabilities rose from N49.227 billion to N54.072 billion.
Mobil Oil Nigeria declared N7.20 kobo final dividend which was subject to shareholders’ approval at the upcoming annual general meeting of the company.

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