Mobil Nigeria Plc reports blow out results

Mobil Nigeria Plc released its 2014 FY results showing revenues rose 1.1% to N79.5billion (N78.7billion). Pre-tax profits for the period was N8.4billion 65% higher than N5.1billion posted a year earlier. Profit after tax for the period was N6.3billion 83% higher than the N3.4billion posted a year earlier.

A main major contributor to this year’s higher profits was a profit of sale of non-current assets of N2.8billion which the company reported in the final quarter of the year.

Mobil also proposed a dividend of N6.6 per share with a closure of April 29, 2015.