The bears remained on rampage on the Nigerian Stock Exchange (NSE) on Wednesday with the All-Share Index dropping below 30,000 mark due to persistent sell pressure. The News Agency of Nigeria (NAN) reports that the index lost, in spite of improved earnings reports, 558.04 points or 1.85 per cent to close at 29,668.73 compared with […]
The domestic equities market extended its losses to the second trading session of the week on the back of sustained losses in NIGERIAN BREWERIES (-9.7%), NESTLE (-3.5%) and UNILEVER (-8.5%) which saw N169bn wiped off investors’ wealth as market capitalisation fell to N11.4tn. As a result, the Benchmark Index shed 1.0% to 30,226.7 points while […]
One of Nigeria’s leading energy groups, Oando PLC has released its financial results for the year ended December 31, 2018. The audited report shows that the company recorded a profit-after-tax of N28.8 billion, an increase of 46 percent compared to the N19.8 billion for the same period in 2017. Increase in oil production, coupled with […]
Nigeria Stock Exchange, Lagos Following price losses incurred by most blue-chip stocks, transactions on the trading floor of the Nigerian Stock Exchange (NSE) reopened on a downturn yesterday, causing market capitalisation to plunge further by N206 billion. Specifically, at the close of transactions yesterday, the All-share index (ASI) shed 513.92 absolute points, representing a decline […]
Nigeria oil. Picture: REUTERS/AKINTUNDE AKINLEYE The auditor of Nigerian oil and gas producer Oando Plc has questioned the company’s ability to remain in business as it continues to incur losses and struggles with a heavy debt burden. Oando, which is listed on the JSE and Nigerian Stock Exchange, recorded losses of 18.3-billion naira (R720.4m) for […]
Oando head office Integrated energy solutions provider, Oando Plc has cut down its debt by over 70% in four years. The company disclosed this following the release of its full-year audited 2018 results last week. Here are highlights of the results Revenue Revenue for the period was N679.5 billion, an increase of 37% compared to […]
Oando PLC (referred to as “Oando” or the “Group”), Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, has announced its audited results for the twelve months period ended December 31, 2018. Commenting on the results Wale Tinubu, Group Chief Executive, Oando PLC said: “Our 2018 results demonstrate the solid […]
‘Femi Asu with agency report Oando Plc, an indigenous energy group, aims to raise fresh capital over the next two years and repay debt used to acquire ConocoPhillips’ Nigerian assets. The Group Chief Executive Officer, Oando, Mr Adewale Tinubu, was quoted by Reuters on Wednesday as saying. Oando has transformed itself in the past few […]
Wale Tinubu 2 Oando Plc is planning to raise fresh capital over the next two years. The money will be used to repay the debt used to acquire ConocoPhillips ’ Nigerian assets. The company’s Chief Executive Officer, Wale Tinubu, disclosed this recently during an interview with Reuters . According to him: “Our expectation is that […]
Wale Tinubu, MD, Oando Despite a challenging local environment, Oando was able to maintain a trend by posting positive results for the third consecutive year with the announcement of a N28.8 billion profit after tax; 46 per cent increase from the N19.8 billion it posted in the corresponding period of 2017. A review of Oando’s […]
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