Leading oil and gas company, Forte Oil Plc, has released its financial statement for the first quarter (Q1) period ended March 31st. Below are the key highlights of the results.
Revenue: Revenue increased from N28 billion in Q1 2018 to N42 billion in 2019, depicting an increment of 50%.
Gross Profit: Gross profit rose from N2 billion in 2018 to N3 billion in 2019, also representing a 50% increase.
Profit Before Tax: Profit before tax jumped from N58 million in 2018 to N454 million in 2019, showing a hike of 677.3%
Profit After Tax: Profit after tax also increased from N2.9 billion in 2018 to N3.3 billion in 2019, representing an increase of 13.79%.
Earnings Per Share: Earnings per share reduced from N0.41 in 2018 to N0.13 in 2019.
Current Share Price: Forte Oil Plc is currently trading at N34.95 during today’s trading session on the floor of the Nigerian Stock Exchange (NSE).