ALERT: Forte Oil reports 84% increase in profit (2017 HY)

Forte Oil released its interim consolidated financial results for the period ended 30 June 2017 ; See below Revenue N’m 2017 6 Months | 65,648 Other News Stanbic IBTC PMI: Nigeria’s private sector expands for fifth consecutive month in JuneNDIC begins liquidation, warns public after CBN closes 46 microfinance banksRMAFC submits political office holders’ pay review […]

Forte Oil released its interim consolidated financial results for the period ended 30 June 2017 ; See below

Revenue N’m

2017 6 Months | 65,648

2016 6 Months | 84,423

%age Change| -22%

Pre Tax Profit N’m

2017 6 Months| 4,739

2016 6 Months| 4,262

%age Change| 11%

Profit after Tax N’m

2017 6 Months| 4,110

2016 6 Months| 2,233

%age Change| 84%

EPS (Kobo)

2017 6 Months| 105k

2016 6 Months| 188k

%age Change| -44%

This result was officially released on the 31st of July

[gview file=”https://cdn.nairametrics.com/wp-content/uploads/2017/07/FORTE_-_AUDITED_HALF_YR_JUNE_2017_FINANCIAL_STATEMENTS_JULY_2017.pdf”]

Comments 2

uyi

August 1, 2017 · 12:19 pm

I am still confuse how NSE work, a company release good results either the price is affected positively or negatively or remain stagnant.
What baffles me is that for a company like SEPLAT that is making billions of Lost the share price is 400 plus, why company making good profit cant even dream of 100 naira..well i am sticking to my policy of buying fundamental stocks oh…