FY 2020: Ardova Plc posts N1.86 billion Profit After Tax

Ardova Plc (formerly Forte Oil Plc) released its full-year results for the year ended 31 December 2020.

• Revenue during the year was N181.94 billion. (+3.1% YoY)
• Cost of Sales for the year was N169.81 billion. (+2.7% YoY)
• Net Finance cost was N1.23 billion during the year. (+355.6% YoY)
• Profit After Tax (PAT) for the year was N1.86 billion. (-52.5% YoY)
• Earnings per share N1.42k vs. N3.00k. (-52.7% YOY)
• The company share price was trading at N14.65, as of when the result was released.(+8.1% year to date)

See link to results.