2014 FY Results : MRS Oil reports 17.6% increase in profits

Revenue

MRS released its 2014 FY results showing revenues  5.17% to N92.3b (2013: N87.7b).

Profitability

The company reported an 8.8% dip in pre-tax  profits N1.2b compared to the N1.4b reported a year earlier. However, profit after tax rose 17.6% N746.4m. The reason for the rise in profits was because tax charge dropped 30.6% year on year.

Shareholders

Earnings per share rose 17.6% to N2.94 compared to N2.5 in 2013. MRS Oil also proposed a dividend  of 88kobo higher than the 75kobo it proposed a year earlier. The register will be closed 13th  17th July 2015.