Okomu Oil boosts turnover by 24.08%, declares N7.39bn profit in 2020 financial year

Okomu Oil Palm Company Plc on Tuesday published its Full Year financial report for the 12 months ended, 31 December 2020.

The firm reported a turnover of N23.41 billion, up by 24.08% from N18.87 billion reported the previous year.

Profit after tax grew by 46.3% to N7.387 billion compared to the profit of N5.049 billion reported in 2019.

Earnings per share of the company increased to N7.74 from N5.29 which translates to 46.3% growth year on year.

At the current share price of N93, the P.E ratio of Okomu Oil stands at 12.02x with earnings yield of 8.32%.

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