Thursday, 4 April 2013

Mobil Nigeria records 31.2% decline in profit 2012, proposes N5 dividend

Mobil Oil Nigeria on Tuesday on the floor of the Nigerian Stock Exchange reported fourth quarter (Q4) 2012 results which showed that sales of N19.5 billion, a 14 per cent growth which added up to N80.802 billion in full year at 30.1 per cent growth.
The oil marketer also recorded a profit before tax (PBT) of N1.6 billion, 18.8 per cent growth and N4.076 billion in full year, a 33.2 decline than the previous year; and profit after tax (PAT) of N1.2 billion 25.2 per cent y/y growth, which made up N2.878 billion in full year, a 31.2 decline than the previous year.
While the PBT was largely supported by a 63.4 per cent y/y rise in other operating income to N1.2 billion, Mobil shares have gained 13.5 per cent compared with 19.4 per cent for the All Share Index and 29.6 per cent for the NSE Oil & Gas sub-index.
Meanwhile, the company has proposed a dividend of N5.00 for 2012.
Source: WorldStage Newsonline

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