Business - Companies
Updated: October 31, 2021

Okomu Oil's Turnover Increases By 66.79% In 9 Months

By Lawrence Agbo
October 31, 2021
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Okomu Oil Palm Company Plc has announced a turnover of N31.04 billion for the nine months ended Sept. 30.

This is contained in the company’s interim financial statement for the period signed by the acting Managing Director, Arnaud Arhainx, posted on the Nigerian Exchange Ltd website on Saturday.

The turnover represented a growth of 66.79 percent when compared with N18.61 billion posted in the comparative period of 2020.

The company’s profit before tax appreciated by 113.47 percent to N14.81 billion against N6.81 billion achieved in the same period of 2020.

Also, profit after tax stood at N11.60 billion in contrast with N4.99 billion recorded in the corresponding period of 2020, an increase of 132.46 percent.

The company’s gross profit also grew to N27.88 billion as against N16.46 billion in the comparative period of 2020.