BOC Gases’ post-tax profit rose by 7.99% to N147million from N136million in the corresponding half year of 2018.
The African leading industrial gas dealer, according to its reported performance for half year ended June 30th 2018, says its revenue went up 14% to arrive at N1.4billion away from the previous reported N1.2billion of last same period.
The company’s earnings per share also went up 7.9% to close at 35kobo, in contrast to 30kobo it closed last same period.
The relationship between its equity price and earnings stood at 11.9x with about 8.4% yield on earnings.
BOC Gases Nigeria Plc was established in Oshodi Isolo, Lagos, under the name of Industrial Gases Plc (Nigeria) Limited (IGL) in 1959. The company is the market leader in West Africa for production and distribution of industrial gases, including argon, nitrogen carbon dioxide and oxygen as well as welding products. In 1997 Industrial Gases Plc changed to BOC Gases Nigeria Plc. In 2006, The Linde Group AG, a global leader in gases, engineering and technology solutions, acquired 60% of BOC Gases Nigeria Plc with the balance being held by Nigerian shareholders. As a member of The Linde Group, BOC Nigeria also has access to the continent’s biggest industrial gases and welding products group, African Oxygen Limited (Afrox), which operates in South Africa and 10 other African countries.