H1 2018 Results: Okomu Oil Palm Plc posts 5% decline in profits

Okomu Oil Palm Plc recently released its H1 2018 financial statements for the year ended 30 June 2018.

Here are the key highlights of the reports

Revenue

The company reported turnover of ₦12.94 billion for the period ended June 2018 compared to ₦12.47 billion reported for the period ended June 2017. This represents 4% increase.

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Profit Before Tax

Profit before tax was ₦6.94 billion for the period ended June 2018, an 11% decrease compared to profit of ₦7.81 billion reported for the period ended June 2017.

Profit After Tax

The company’s profit after tax for the half year ended 30th June 2018 was ₦5.94 billion, a 5% decrease compared to profit of ₦6.24 billion recorded in H1 2017.

Earnings Per Share

Okomu Oil Palm Plc, however, reported earnings per share of 623 kobo for the period ended June 2018 as against earnings of 654 kobo reported for the comparative period in 2017.