Forte Oil Q1 2017 Results: Key Highlights

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April 18, 2017/InvestmentOne Research

Forte Oil released its Q1 2017 results last Thursday.

Please find key highlights below:

·         Revenue of N33.00bn; up +19.9% q/q; down -7.3% y/y

·         Profit before tax of N2.05bn against a -N293m loss before tax in Q4 2016

·         Profit after tax of N1.88bn; up +1913% q/q; +97.5% y/y