Okomu Oil Plc released its 2014 half year results posting a flat revenue growth of N4.86billion (2013 H1: N4.82billion). Gross profits increased 38% to N3.3billion compared to N2.4billion same period 2013. The increase in Gross Profits was as a result of a 37% drop in cost of sales. Operating expenses 45% to N1.59billion and slicing 47% of Gross profit compared to 45% the year before. Finance cost dropped 41% to N71million. Pre-tax profits at the end of the period was N1.7billion a 21% rise from N1.4billion in 2013.
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