Conoil boosts HY 2021 profit by 213.73% to N1.06bn

Conoil Plc has published its Second Quarter report for the period ended 30 June 2021. The Oil & Gas firm achieved year on year growth in its top line and bottom line figures.

A turnover of N67.638 billion was reported, up by 17.72% from N57.456 billion reported the previous year.

Profit after tax grew by 213.7% to N1.063 billion from N338.697 million reported in HY 2020.

Earnings per share of the firm increased significantly to N1.53 from the EPS of 49 kobo achieved the previous year.

At the share price of N18.5, the P.E ratio of Conoil stands at 11.89x with earnings yield of 8.28%.

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