Q1 2018 Results: 11 Plc records massive 21,100% increase in profits

11 Plc (formerly Mobil Oil Nigeria Plc) today released its financial statements for the period ended Q1 March 31st 2018.

Here are the key highlights of the results;

Revenue

The company reported Revenue of ₦45.08 billion for the period ended March 2018 compared to ₦25.17 billion reported for the period ended March 2017. This represents a 79% increase for the comparative period in 2017.

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Profit Before Tax

Profit before tax was ₦4.08 billion for the period ended March 2018, a 9,381% Increase from the ₦43.34 million reported for the period ended March 2017.

Profit After tax

The company’s profit after tax for the period ended March 2018 was ₦2.76 billion compared to ₦13.06 million reported March 2017. This represented a 21,100% increase for the comparative period in 2017.

Earnings Per Share

11 Plc also reported earnings per share of 764 kobo for the period ended March 2018 compared to 4 kobo reported for the period ended March 2017. This represents a 19000% increase for the comparative period in 2017.

DOWNLOAD 11 PLC 2018 RESULTS.