Eterna Oil post blow out results but fail to declare dividends
The company reported revenues of N81.9billion for the year ended 2014 down 16.5% from the N98.2billion posted same period in 2013. Cost of sales for the period dropped 17% YoY boosting Gross profits by more than 7% to N3billion.
Pre-tax profits for the period rose 79% to N1.79billion (2013: N1.07.1million). Profit after tax also rose 83% to N1.2billion (2013: N703.1million).
Earnings per share attributable to shareholders for the period rose 83% t0 99kobo compared to the 54kobo posted a year earlier. .No dividend has been recommended for the year.