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Ardova Plc: Increase in fuel sales boost revenues

Ardova Plc got a major boost from an increase in its fuel revenue-generating unit.

Published

6 months ago

October 31, 2020

Ardova Plc reported revenues of N128.18 billion in 2020 9M, compared to N123.55 billion in the corresponding period of 2019.

Key highlights for 2020 9M

Revenues increased to N128.18 billion, +3.75% YoY
Revenues from fuel increased to N116.04 billion, +4.82% YoY
Revenues from lubricants and greases decreased to N12.12 billion, -5.37% YoY
Revenues from solar system decreased to N8.25 million, -74.32% YoY.
Revenues from liquified petroleum gas and cylinder was N5.21 million, +100% YoY.
Other income decreased to N672.67 million, -82.13%
Pre-tax profits decreased significantly to N2.42 billion, -62.97% YoY.
Earnings Per Share decreased to 1.45 kobo, -64.02% YoY.

Bottom Line

Ardova Plc got a major boost from an increase in its fuel revenue-generating unit.

Companies have generally recorded decreased revenues in the last three quarters mostly due to COVID-19, but Ardova Plc managed to grow its revenues despite a decrease in its pre-tax profits due to a slight rise in cost of sales and a significant reduction in other income.

Company Results

Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

Published

3 months ago

February 2, 2021

Adeyemi Adebayo

Focus: This small-cap oil company is seriously lagging behind

Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
It reported a loss per share of N1.11 in 2020 compared to N0.26 loss per share reported in 2019.
No dividend announcement was made in their press release.
The company share price of N0.30 unchanged YTD.

See link to results here

Company Results

Conoil posts 23% post-tax profit decline in 2020 FY results

Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

Published

3 months ago

February 2, 2021

Adeyemi Adebayo

Conoil Plc released its 2021 FY results reporting revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. –20.9% YoY
The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.
It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. –22.89% YoY.
No dividend announcement was made in their press release.
The company share price of N20.85, up +0.72% YTD.

See link to results here

Nairametrics

Ardova Plc: Increase in fuel sales boost revenues

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Ardova Plc: Increase in fuel sales boost revenues

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Company Results

Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Company Results

Conoil posts 23% post-tax profit decline in 2020 FY results

Nairametrics | Company Earnings