[Corporate Action] Forte Oil Records 30% Rise In PAT In 2015

Forte Oil released its financial results for the year end 31 December, 2015.

The results showed that revenue dropped by 26.7% from N170 billion in 2014 to N124 billion in 2015.

Gross Profit also fell by less than 1% from N18.4 billion to N18.3 billion.

Pre-tax profit rose by 16.75% from N6 billion in 2014 to N7 billion in 2015.

Profit after tax however rose by 30% from N4.4 billion in 2014 to N5.7 billion in 2015.

Forte Oil share price was N297.83, down 5% from previous trading as at press time

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