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    CONOIL Declares -27% Decline in 2020 FY Profit After Tax

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    Godwin Okaforhttps://naija247news.com
    Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

    Oil marketing major, Conoil Plc said on Wednesday its post-tax profit for the period ended December 31, 2020 depreciated 27 percent to N1.44 billion from N1.97 billion posted the same period of last year.

    Pretax profit of the oil marketing firm, also declined 24..3 percent to N2.14 billion from N2.83 billion declared the same period of 2019.

    Revenue of the company declined by 16 percent to N117 billion from N140 billion declared the previous year, CONOIL said in a filing with the Nigerian Exchange Group (NGX).

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