Ardova Plc (formerly Forte Oil) on Thursday published its Audited Financial Report for the year ended 31 December, 2019.
The oil firm reported a turnover of N176.55 billion, up by 31.06% when compred to the turnover of N134.71 billion reported in 2018 year ended.
Profit after tax rose to N3.92bn from N631 million reported in 2018. This implies a growth of 520% in profit after tax year on year.
The company’s earnings per share of the oil firm rose to N3.00 from 48 kobo in 2018.
With reference to the share price of N16, the P.E ratio of Ardova Plc based on FY’19 reports is calculated as 5.32x with earnings yield of 18.79%.