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 […]
Oando Nigeria Plc has announced that it recorded a turnover of N679.5 billion and Profit After Tax of N28.8 billion for the financial year ended December 31, 2018. According to the firm’s audited result, turnover increased by 37 per cent to N679.5 billion compared to N497.4 billion in 2017, while PAT rose by 46 per […]
28 Firms Lose As Stock Market Declines Further The nation’s stock market declined further on Tuesday as bearish sentiments persisted, making investors lose N4.8bn. The market capitalisation of equities listed on the Nigerian Stock Exchange dropped from N10.954tn on Monday to N10.948tn on Tuesday while the year-to-date loss stood at -7.3 per cent. On Tuesday, […]
The bearish performance at the equities market continued into the fourth consecutive trading session, Thursday. The negative performance for the day were specifically spurred by losses in Dangote Cement which fell 0.5 percent, Eco Transnational Incorporated (ETI) which declined 3.3 percent and Access Bank which depreciated by 4.3 percent. As a result, the benchmark index […]
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