MRS Oil Nigeria plc, a major player in the downstream Nigerian oil and gas industry, released its financial statement for the half year 2017, showing a marginal 0.26% decline in gross income. The revenue dropped from N62.5billion to N62.3billion in the corresponding period.
The Oil marketing firm, MRS Oil Nigeria Plc said in its reports that the company’s post tax profit for the period ended 30th June, 2018 declined 28% from N703.5million to N505.5million in the corresponding period.
Earnings per share decreased also by 28% to N1.61kobo from N2.31kobo in HY 2017.
The company’s PE ratio is at 17x with earnings yield of 5.8%.