Forte Oil Plc released its financial results for the nine months ended 30th September 2015. The results showed a 25% drop in revenue from N122 billion in Q3 2014 to N91 billion in Q3 2015. Pre-tax profits rose marginally by 1.63% in 2015.
See Summary of the result below…
| FORTE OIL PLC Q3 2015 | Sep-15 | Sep-14 | % Change |
| N’bn | N’bn | ||
| Revenue | 91,615 | 122,580 | -25.26% |
| Gross Profit | 12,979 | 13,294 | -2.37% |
| Operating Expenses | -10,063 | -7,788 | 29.21% |
| Pre-tax Profits | 5,288 | 5,203 | 1.63% |
| Profit After tax | 4,284 | 4,015 | 6.70% |
| Current Share Price | N270 |