{"id":35691,"date":"2019-10-29T15:54:45","date_gmt":"2019-10-29T14:54:45","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=35691"},"modified":"2019-10-29T15:54:45","modified_gmt":"2019-10-29T14:54:45","slug":"conoil-posts-q3-2019-results-declares-n1-7billion-in-pat","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/conoil-posts-q3-2019-results-declares-n1-7billion-in-pat\/","title":{"rendered":"Conoil Posts Q3 2019 Results: Declares N1.7billion in PAT"},"content":{"rendered":"<p class=\"yiv0256709463msonormal\" style=\"text-align: justify; line-height: 16.5pt; background: white;\"><span style=\"font-size: 14.0pt; color: #002060;\">Against the narrative of the challenging business environment, Conoil Plc on Tuesday published its financial results for the month ended September 2019, posting a profit after tax of N1.7 billion, an indication of 7 per cent rise for profit for the period.<\/span><\/p>\n<p class=\"yiv0256709463msonormal\" style=\"text-align: justify; line-height: 16.5pt; background: white;\"><span style=\"font-size: 14.0pt; color: #002060;\">According to the leading indigenous oil giant result posted on the Nigerian Stock Exchange (NSE) website, without a doubt 2019 has been another challenging year for companies in the oil sector in the domestic economy.<\/span><\/p>\n<p class=\"yiv0256709463msonormal\" style=\"text-align: justify; line-height: 16.5pt; background: white;\"><span style=\"font-size: 14.0pt; color: #002060;\">However, despite this the company\u2019s results show that a management team that has worked aggressively to maintain a trend of positive results reflected in higher production and profit after tax.<\/span><\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p class=\"yiv0256709463msonormal\" style=\"text-align: justify; line-height: 16.5pt; background: white; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;\"><span style=\"font-size: 14.0pt; color: #002060;\">An analysis into the company\u2019s financials for the month ended September 30, 2019 shows that its turnover increased by 49% to N112.7billion compared to N75.8billion in same period of 2018; retained earnings rose by 4 per cent N14.4 billion from N13.9billion in comparative period of 2018 while its net asset grew by 3 per cent to N2.7 billion from N2.6 billion in Year-to-Date (YTD) September 2018. Earning per share ended the period at 245 kobo as against 229 kobo in same period of 2018.<\/span><\/p>\n<p class=\"yiv0256709463msonormal\" style=\"text-align: justify; line-height: 16.5pt; background: white;\"><span style=\"font-size: 14.0pt; color: #1f3864;\">The hope is that the company will sustain the momentum and continue on this winning streak in the final quarter of the year<\/span><span style=\"font-size: 14.0pt; color: #002060;\">\u00a0and positively impact the Capital Market and stakeholders alike.\u00a0<\/span><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Against the narrative of the challenging business environment, Conoil Plc on Tuesday published its financial results for the month ended September 2019, posting a profit after tax of N1.7 billion, an indication of 7 per cent rise for profit for the period.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":17766,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[799],"coauthors":[2391],"class_list":["post-35691","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-conoil-plc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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