MRS Oil Post N634million PAT, Propose 75kobo Dividends

MRS Oil has released its 2013 FY results showing a 10% rise in revenue t0 N87.7billion (2012: N79.2billion). Highlights

• Gross profit dropped 16% to N4.7billion (2012: N5.7billion)
• Operating expenses rose 28% to N6.4billion (N5billion)
• Other income rose an astonishing 263%  to N3.8billion (2012: N1billion)
• Operating profit before other income was basically a loss of N1.7billion.
• Pre-tax profits at the end of the year was N1.4billion (2012:N379million)
• Profit after tax at the end of the year was N634million a 208% increase compared to N205million posted in 2012

MRS First released its results in the website of the NSE