The following warnings occurred:
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined variable $awaitingusers - Line: 16 - File: global.php(844) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/global.php(844) : eval()'d code 16 errorHandler->error
/global.php 844 eval
/showthread.php 26 require_once
Warning [2] Undefined array key "mybb" - Line: 1952 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 1952 errorHandler->error
/inc/functions_indicators.php 41 my_set_array_cookie
/showthread.php 629 mark_thread_read
Warning [2] Undefined property: MyLanguage::$ratings_update_error - Line: 5 - File: showthread.php(732) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(732) : eval()'d code 5 errorHandler->error
/showthread.php 732 eval
Warning [2] Undefined array key "additionalgroups" - Line: 7162 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 7162 errorHandler->error
/inc/functions_user.php 844 is_member
/inc/functions_post.php 406 purgespammer_show
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "profilefield" - Line: 6 - File: inc/functions_post.php(474) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php(474) : eval()'d code 6 errorHandler->error
/inc/functions_post.php 474 eval
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showimages" - Line: 741 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 741 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showvideos" - Line: 746 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 746 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "invisible" - Line: 1506 - File: showthread.php PHP 8.0.30 (Linux)
File Line Function
/showthread.php 1506 errorHandler->error
Warning [2] Undefined variable $threadnotesbox - Line: 30 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 30 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $addremovesubscription - Line: 79 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 79 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $forumjump - Line: 86 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 86 errorHandler->error
/showthread.php 1533 eval



Guest Join UsHey Guest,
Welcome, Join our awesome community where you can discuss on various topics :-
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Much More.. or Create an Account


{myadvertisements[zone_1]}
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Oando posts N315.4b revenue
#1
Oando posts N315.4b revenue


[url=https://guardian.ng/business-services/stakeholders-kick-against-vat-on-equities-transactions/][/url]

[Image: Oando-750x375.jpg]
Oando Plc has announced its financial results for the six months ended, June 30, 2019, with a profit-after-tax (PAT) of N7.2 billion. Oando, whose operation was stalled following sanctions by the Securities and Exchange Commission (SEC), weathered the storm to record a six per cent increase in revenue to N315.4 billion from N297.3 billion in comparative period of 2018.

Since its acquisition of ConocoPhillips Nigeria in 2014, Oando has embarked on a proactive drive to significantly reduce its debt and liabilities. The Group reduced its total borrowings for the period by five per cent to N200.7 billion from N210.9 billion in FYE 2018, totalling a 58 per cent reduction in debt since 2014 from N473.3 billion.

Similarly, its upstream business reduced borrowings by 13 per cent to $221.13 million compared to $255.6million in FYE 2018, totalling approximately 72 per cent debt reduction from $801.6 million in 2014. The company further reduced its Reserve Based Lending (RBL) facility by a 99%.

Commenting on the results, Oando’s Group Chief Executive, Adewale Tinubu, said: “Half year 2019 was a positive period for us as we achieved strong top and bottom line earnings despite our overall performance being tempered by a one-off N14 billion charge. Our crude oil and natural gas production grew by 15% and 8% respectively compared to the similar period last year while we also achieved a significant reduction in our RBL facility to approximately $0.4 million from $450 million at inception- a 99% reduction.

“The bad news is not only was it a very expensive transaction then because the price of crude oil was $112 when we closed and by December crude oil prices had dropped to $60 per barrel, one year after the acquisition, crude oil prices had dropped even further to $30 a barrel. You can imagine us signing the largest cheque in our corporate history and immediately after the market doing a complete reverse. This was coupled with being in an era where Niger Delta militancy was on a high, production was severely hampered; we had a large swamp rig operation and pipelines network which were affected”. Today, Oando is in its third year of consecutive profits.”
Reply
{myadvertisements[zone_3]}


Possibly Related Threads...
Thread Author Replies Views Last Post
  Nigeria’s revenue-to-GDP ratio lowest in the World – World Bank Edoman 0 819 07-27-2021, 02:15 PM
Last Post: Edoman
  MTN Nigeria profit rises, revenue hits N1.35tn Edoman 0 758 03-01-2021, 10:11 AM
Last Post: Edoman
  Onne Customs generates N118.9b revenue Edoman 0 771 01-16-2021, 09:13 AM
Last Post: Edoman
  GTB posts N167.4b pre-tax profit in nine months Edoman 0 747 11-23-2020, 08:44 AM
Last Post: Edoman
  AIICO posts 27% growth in gross premium in Q3 Edoman 0 709 11-13-2020, 10:06 AM
Last Post: Edoman
  MTN Nigeria Revenue Rises To N100 Billion Monthly In 2020 Edoman 0 793 11-02-2020, 11:56 AM
Last Post: Edoman
  GTB posts N109.7b profit in first half •To pay N8.83b interim dividend September 4, 2 Edoman 1 1,078 09-14-2020, 12:00 AM
Last Post: Mueeidkhatri
  Zenith Bank posts N103.8 billion half-year PAT September 4, 2020 Zenith Bank Edoman 1 983 09-14-2020, 12:00 AM
Last Post: Mueeidkhatri



Users browsing this thread: 1 Guest(s)

{myadvertisements[zone_2]}

About contripeople

Contripeople forum description.

              Quick Links

              User Links

              Advertise