Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Opinions Blurb

Earnings Review: Okomu Oil Palm Plc H1 2013

Nairametrics by Nairametrics
July 23, 2013
in Blurb
Share on FacebookShare on TwitterShare on Linkedin

OKOMU OIL PIX

[upme_private]Okomu Oil released its Half Year 2013 Earnings showing revenues dropped sharply by 21% to N4.8billion when compared to the same period last year.Gross profit dropped by half to N2.4billion during the period compared to N4.8billion in the same period 2012. The company posted a pre-tax profit of N1.3billion 52% short less than the N2.8billion posted at the same period 2012. Earnings per share was N1.5 compared to N3 a year earlier.

Key Highlights

RelatedPosts

By the numbers: Comparing NNPC with Saudi Aramco

Why Bitcoin is losing the war against inflation

  • Things seem to be getting worse for the company following the last quarter of 2012. Revenue drop of 21% is a reversal of the 6.5% rise it enjoyed in the same period in 2012. 
  • Gross Profit margin also tanked dropping to 50% this period compared to 80% same period last year. This was mainly due to the rise in 90% rise in cost of sales relative to the drop in revenues.
  • Operating Expenses dropped 46% to just above N1billion during the period. The current result does not give an indication as to why they had this significant drop but I won’t be surprised if it had more to do with accounting classifications. Some cost may have been reclassified to cost of sale in conformity with IFRS provisions. 
  • However operating expenses as a percentage of Gross Profit remained almost unchanged at 45%
  • The company is dealing with a very tough operating environment judging by this result. The drop in revenues and rise in cost of sales may also be due to requirements of IFRS  regarding how they record revenues and value inventories.
  • Share price at blog post was N46 and 1.7x book value per share. It is on my radar for about N21.

Okomu Oil Plc 2013 H1 Results

Okomu Oil Plc released its 2013 H1 results in the website of the NSE[/upme_private]

Related

Tags: Oil & Gasoil priceOkomu Oil

Comments 1

  1. wallesmit says:
    July 24, 2013 at 9:40 am

    21 naira hehe I think our last report had it at 27 quid. I think people just look at the stock and think dividend now so it does not matter whether earnings tank or not people simply are thinking dividends

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Bulls are back: Nigerian stock market gains N8 billion
    • Why court awarded Nigerian musician N20 million in damages against MTN, others
    • Dangote Cement appoints Dr. Gbenga Fapohunda as Acting Group Chief Finance Officer

    Follow us on social media:

    Recent News

    Nigerian stock market dips 0.57% as investors part with N117 billion

    Bulls are back: Nigerian stock market gains N8 billion

    June 30, 2022
    Federal Government Vs Petro Union: $15 billion case resumes today

    Why court awarded Nigerian musician N20 million in damages against MTN, others

    June 30, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com