• About Us
  • Terms & Conditions
  • Contact Us
Friday, February 3, 2023
Investogist
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Security features of the new naira notes revealed by the CBN

    JUST IN: CBN orders banks to begin payment of new notes over the counter

    Atiku heads to Europe on ‘business trip’

    Why CBN should not extend naira swap deadline – Atiku

    Kwankwaso not stepping down for Atiku, Tinubu – Campaign spokesperson

    NNPP not having merger discussion with any party – Kwankwaso

    Hoodlums attack INEC office in Anambra, destroy ballot boxes

    Hoodlums attack INEC office in Anambra, destroy ballot boxes

    Place Peter Obi on terror watch list – Keyamo tasks security agencies

    Obi not in talks with Atiku, won’t step down — Campaign Council

    Obanikoro tells court how he gave Fayose N1.2bn from Lagos Security Account

    Obanikoro tells court how he gave Fayose N1.2bn from Lagos Security Account

    They want to starve us of funds – IPOB  DOS cries out

    They want to starve us of funds – IPOB DOS cries out

    ‘Elements’ in Aso Villa want APC to lose election –  El-Rufai

    ‘Elements’ in Aso Villa want APC to lose election – El-Rufai

    Suspected herdsmen ambush Benue policemen, kill DPO

    Suspected herdsmen ambush Benue policemen, kill DPO

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    Equities Market Recorded Gains… As NGX-ASI Grows Marginally By 0.49%

    Equity Market turns bearish… As Value Traded Spikes by 409.01%

    The Local bourse Closed The Week Bearish… As the NGX-ASI fell by 0.18%.

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    NGX-ASI Turns Bullish…As Oil & Gas sector closed at a Gain of 1.58%

    The Okomu Oil Palm Plc announces N7.00 interim dividend for H1 2022

    Local Bourse Records 2nd Day Loss…… As NGX-ASI Decreases by 0.02%

    FGN Savings Bond rate rises above 12% in September 2022

    DMO offers N360 bn FGN Bonds for subscription in January

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    Sellers Sway the Performance of the Equities Market… As NGX-ASI Dips By 0.09%

    MTN Nigeria Communications Plc announces Board Meeting and close period for Q1 2021

    MTN Nigeria set to allot ‘incentive shares’ to shareholders

    Nestle Nigeria Plc announces Board meeting to consider 2020 accounts and dividend

    NGX-ASI Depreciated by 2.03%… As Year-to-Date slides down to 2.62%

    NGX Reg lifts suspension on Trading of Niger Insurance Plc’s shares

    NGX Reg lifts suspension on trading of International Energy Insurance Plc shares

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    2022 financial year: UAC of Nigeria posts N2.69 billion loss

    2022 financial year: UAC of Nigeria posts N2.69 billion loss

    Flour Mills of Nigeria Plc makes over N1 Trillion Revenue in 9 Months

    Flour Mills of Nigeria Plc makes over N1 Trillion Revenue in 9 Months

    Geregu Power Plc announces first Dividend since listing on NGX

    Geregu Power Plc announces first Dividend since listing on NGX

    MTN Nigeria proposes N23bn Commercial Paper

    MTN Nigeria’s Board of Directors approve payment of N10.00 final dividend for 2022 FY

    Stanbic IBTC Holdings Plc grow profit by 42% to N81bn in 2022

    Stanbic IBTC Holdings Plc grow profit by 42% to N81bn in 2022

    Directors of Geregu Power Plc approve dividend declaration for 2022 FY

    Directors of Geregu Power Plc approve dividend declaration for 2022 FY

    NPF Microfinance Bank Shareholders approve 20k dividend

    NPF Microfinance Bank reports 77.79% growth in Profit for 2022 financial year

    UBA suffers maximum possible loss on NSE as investors dump the stocks

    UBA Africa gets first female CEO

    CAP Plc posts N2.08bn profit in 2022, 85.95% YoY growth

    CAP Plc posts N2.08bn profit in 2022, 85.95% YoY growth

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    37 years between the Buhari regimes… Economic lamentations remain the same

    37 years between the Buhari regimes… Economic lamentations remain the same

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Security features of the new naira notes revealed by the CBN

    JUST IN: CBN orders banks to begin payment of new notes over the counter

    Atiku heads to Europe on ‘business trip’

    Why CBN should not extend naira swap deadline – Atiku

    Kwankwaso not stepping down for Atiku, Tinubu – Campaign spokesperson

    NNPP not having merger discussion with any party – Kwankwaso

    Hoodlums attack INEC office in Anambra, destroy ballot boxes

    Hoodlums attack INEC office in Anambra, destroy ballot boxes

    Place Peter Obi on terror watch list – Keyamo tasks security agencies

    Obi not in talks with Atiku, won’t step down — Campaign Council

    Obanikoro tells court how he gave Fayose N1.2bn from Lagos Security Account

    Obanikoro tells court how he gave Fayose N1.2bn from Lagos Security Account

    They want to starve us of funds – IPOB  DOS cries out

    They want to starve us of funds – IPOB DOS cries out

    ‘Elements’ in Aso Villa want APC to lose election –  El-Rufai

    ‘Elements’ in Aso Villa want APC to lose election – El-Rufai

    Suspected herdsmen ambush Benue policemen, kill DPO

    Suspected herdsmen ambush Benue policemen, kill DPO

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    Equities Market Recorded Gains… As NGX-ASI Grows Marginally By 0.49%

    Equity Market turns bearish… As Value Traded Spikes by 409.01%

    The Local bourse Closed The Week Bearish… As the NGX-ASI fell by 0.18%.

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    NGX-ASI Turns Bullish…As Oil & Gas sector closed at a Gain of 1.58%

    The Okomu Oil Palm Plc announces N7.00 interim dividend for H1 2022

    Local Bourse Records 2nd Day Loss…… As NGX-ASI Decreases by 0.02%

    FGN Savings Bond rate rises above 12% in September 2022

    DMO offers N360 bn FGN Bonds for subscription in January

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    Sellers Sway the Performance of the Equities Market… As NGX-ASI Dips By 0.09%

    MTN Nigeria Communications Plc announces Board Meeting and close period for Q1 2021

    MTN Nigeria set to allot ‘incentive shares’ to shareholders

    Nestle Nigeria Plc announces Board meeting to consider 2020 accounts and dividend

    NGX-ASI Depreciated by 2.03%… As Year-to-Date slides down to 2.62%

    NGX Reg lifts suspension on Trading of Niger Insurance Plc’s shares

    NGX Reg lifts suspension on trading of International Energy Insurance Plc shares

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    2022 financial year: UAC of Nigeria posts N2.69 billion loss

    2022 financial year: UAC of Nigeria posts N2.69 billion loss

    Flour Mills of Nigeria Plc makes over N1 Trillion Revenue in 9 Months

    Flour Mills of Nigeria Plc makes over N1 Trillion Revenue in 9 Months

    Geregu Power Plc announces first Dividend since listing on NGX

    Geregu Power Plc announces first Dividend since listing on NGX

    MTN Nigeria proposes N23bn Commercial Paper

    MTN Nigeria’s Board of Directors approve payment of N10.00 final dividend for 2022 FY

    Stanbic IBTC Holdings Plc grow profit by 42% to N81bn in 2022

    Stanbic IBTC Holdings Plc grow profit by 42% to N81bn in 2022

    Directors of Geregu Power Plc approve dividend declaration for 2022 FY

    Directors of Geregu Power Plc approve dividend declaration for 2022 FY

    NPF Microfinance Bank Shareholders approve 20k dividend

    NPF Microfinance Bank reports 77.79% growth in Profit for 2022 financial year

    UBA suffers maximum possible loss on NSE as investors dump the stocks

    UBA Africa gets first female CEO

    CAP Plc posts N2.08bn profit in 2022, 85.95% YoY growth

    CAP Plc posts N2.08bn profit in 2022, 85.95% YoY growth

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    37 years between the Buhari regimes… Economic lamentations remain the same

    37 years between the Buhari regimes… Economic lamentations remain the same

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home Markets

Conoil Plc suffers 67% drop in Profit after Tax in H1 2020

Friday, 7 August 2020, 12:13 am
in Markets, Stocks/Equities
0
Conoil Plc announces N2.00 dividend for the period ended 31 December 2019
Share Share Share Share Send as Email

Conoil Plc joined the list of other oil and gas firms, listed on the Nigerian stock Exchange to suffer decline in both revenue and profit, for the period ended 30 June 2020. According the financial statements filed with Exchange on Thursday, Conoil revenue declined by 20% in the first half of the year while profit for the period slumped by 67%.

In H1 2020, Conoil recorded a revenue of N57.456 billion down from N72.219 billion it reported in the same period in 2019, whereas profit after tax dropped to N338.697 million from N1.033 billion. This shows the net profit margin of 0.6%, down from 1.43% recorded in H1 2019.

The company EPS decreased to N0.49 from N1.49 in H1 2019..

A review of the company’s statement of profit or loss, showed that the cost of sales gulped 91.69% of the revenue (N52.679 billion) with gross profit settling at N4.777 billion (gross profit margin of 8.31%) in H1 2020.

From the expense column, it was observed that the company reduced its major expense categories, such as;

  • Distribution expenses declined to N825.844 million in H1 2020 from N1.028 billion in H1 2019
  • Administrative expenses dropped to N22.987 billion from N3.037 billion in H1 2019
  • Finance cost decreased to N635.468 million from N1.171 billion from H1 2019.

Conoil made of all its revenue in H1 2020, from the sale of petroleum products within Nigeria according to the company report.

  • Have you read?
  • Acquisition of 100% Equity Interest in Cavmont Bank Zambia Ltd by Access Bank Zambia Ltd
  • Ardova Plc profit after tax dips by 81% in H1 2020 despite rise in revenue

In the second quarter of 2020 (April to June), the company revenue dropped by 47.21% to N19.311 billion from N36.582 billion in H1 2019, while the profit dipped by 88.93% to N78.316 billion from N707.518 billion in H1 2019.

Conoil balance sheet showed that the total assets declined by nearly N10 billion to N53.631 billion as at 30 June 2020 from N63.585 billion as at 31 December 2019. This is mainly due to drop in;

  • Inventories dropped to N7.131 billion from N9.823 billion
  • Trade and other receivables declined to N38.797 billion from N40.441 billion
  • Cash and cash balances slumped to N1.967 billion from N7.080 billion

The company’s total liability also declined in line with the total assets. The total liability dropped to N33.825 billion in H1 2020 from N44.117 billion at 31 December 2019, mainly due to drop in borrowings to N3.169 billion from N9.151 billion.

The total equity remained relatively stable at N19.806 billion. The major component of the company’s equity is the retained earnings which stood at N15.635 billion in H1 2020.

Conoil reported a negative cash and cash equivalents as at 30 January 2020 of N1.201 billion

Conoil was incorporated in 30 June 1970. It is into the business of Marketing of Refined Petroleum Products. Manufacturing and Marketing of Lubricants. It is listed on the main board of the Nigerian stock Exchange under the Oil & Gas sector.

The share price of Conoil has remained unchanged at N16.90 per share, since 14 July 2020. The 52 week high and low values are N21.00 and N13.15 per share respectively. YTD the share price is down by 8.65%, while in two years and five years it has lost 30.45% and 49.22% of its value respectively.

Written by;

Ifunanya Ikueze

Related Posts:

  • Nine months 2020: Conoil Plc suffers 35% decline in profit amid slump in revenue
    Nine months 2020: Conoil Plc suffers 35% decline in profit…
  • FY 2020: Conoil Plc posts 27% decline in profit
    FY 2020: Conoil Plc posts 27% decline in profit
  • CAP Plc Reports 9% Drop in Profit - Posts N456.27 Million PAT in Q1 2020
    CAP Plc Reports 9% Drop in Profit - Posts N456.27 Million…
  • UAC of Nigeria Plc reports 93.4% drop in profit from continuing operations in H1 2020
    UAC of Nigeria Plc reports 93.4% drop in profit from…
Previous Post

Access Bank Plc acquires Cavmont Bank Zambia Ltd through its subsidiary

Next Post

President Trump issues ban on Chinese TikTok and Wechat

Next Post

President Trump issues ban on Chinese TikTok and Wechat

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Security features of the new naira notes revealed by the CBN

JUST IN: CBN orders banks to begin payment of new notes over the counter

Geregu Power Plc announces first Dividend since listing on NGX

Geregu Power Plc announces first Dividend since listing on NGX

Hoodlums attack INEC office in Anambra, destroy ballot boxes

Hoodlums attack INEC office in Anambra, destroy ballot boxes

Atiku heads to Europe on ‘business trip’

Why CBN should not extend naira swap deadline – Atiku

Attempted rape and assault charges against Manchester United’s Mason Greenwood  dropped

Attempted rape and assault charges against Manchester United’s Mason Greenwood dropped

2022 financial year: UAC of Nigeria posts N2.69 billion loss

2022 financial year: UAC of Nigeria posts N2.69 billion loss

Flour Mills of Nigeria Plc makes over N1 Trillion Revenue in 9 Months

Flour Mills of Nigeria Plc makes over N1 Trillion Revenue in 9 Months

Security features of the new naira notes revealed by the CBN

JUST IN: CBN orders banks to begin payment of new notes over the counter

Investogist
info@investogist.com

Follow us

Categories

  • Africa
  • Agriculture
  • Arts & Culture
  • Budgets
  • Business
  • Columnists
  • Commodities
  • Companies
  • Cryptocurrencies
  • Economic Data
  • Economy
  • Editorials
  • Financial Education
  • Football
  • Forex
  • Industry
  • Investogist Business Saturday
  • Job Opportunities
  • Markets
  • Nature
  • News
  • Nigeria
  • Op-ed
  • Opinion & Analysis
  • Places & People
  • Policies
  • Rates & Bonds
  • Sports
  • Stocks/Equities
  • Technology
  • Travel & Tours
  • Vacancies
  • World

Quick Links

  • News
  • Economy
  • Markets
  • Business
  • Opinion & Analysis
  • Travel & Tours

Newsletter

Copyright © 2023 investogist.com, All Rights Reserved

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies

Copyright © 2023 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist