Okomu Oil Palm Company Plc has reported a pre-tax profit of N33.84 billion in FY 2023, representing a 44% growth from N23.52 billion in FY 2022.
As many companies face elevated financial risks, with hefty leverage contributing to substantial interest expenses and foreign exchange losses that erode shareholders' equity, Okomu Oil Palm offers a contrast. Its low financial leverage serves as a safeguard, mitigating the risk to investors' portfolios.
Nigeria’s leading oil palm production company, Okomu Oil Palm has released its financial results for FY 2023, posting a pre-tax profit of N32.9 billion which marks a 43.4% increase from the N22.9 billion posted in FY 2022.
Okomo Oil achieved significant growth in Q1 2023 and sustained its revenue growth trajectory from the previous year.
Based on the December 2019 World Bank price index for crude palm oil at US$769.93, Nigeria lost N90.1 billion to importation of what it could produce last year.
Leading palm oil-producing and agro-business firm, Okomu Oil Plc has recorded a 57% plunge in its Profit After Tax...
Okomu Oil Palm is a SELL in Nairametrics opinion for the trading week ending August 2, 2019 on the @nsecontact
Recently, the National Palm Produce association of Nigeria revealed that importation and illegal smuggling of Palm Oil are biting really hard on producers.
After three years of revenue growth, supported by higher CPO (Crude Palm Oil) prices at the international market, OKOMUOIL posted a marginal decline in revenue (-0.02%)
NAGB has explained why companies like PZ Cussons continue to import oil palm.
