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    Mobil Oil Nigeria records 25.7% profit in Q3

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    Babatunde Akinsolahttps://naija247news.com
    Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

    exxon_mobilThe Nigerian Stock Exchange has published the third quarter (Q3) 2013 results of Mobil Oil Nigeria with sales up by single digits 6.7 per cent at of N20.0 billion against Q3 2012, while profit before tax (PBT) and profit after tax (PAT) advanced strongly, by 26.2 per cent and 25.7 per cent to N1.3 billion and N891 million respectively.

    All Profit&Loss trends were generally supportive of PBT growth with opex being the sole exception.

    Gross margin narrowly expanded by 27bps to 12.8 per cent, while other income rose 36.9 per cent to N808 million. Also, interest expenses continue to be muted at just N15 million as Opex rose 16.8 per cent   to N2.0 billion during the quarter to weigh on progress across other lines.

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