Forte Oil Says 2018 Q1 Pretax Profit up 54.4% to N3.16 Billion

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April 16, 2018

By InvestAdvocate

Lagos (INVESTADVOCATE)-Oil marketer, Forte Oil Plc on Monday said its pretax profit for the period first quarter (Q1) ended March 31, 2018 grew 54.4 percent to N3.16 billion from N2.05 billion posted a year ago

Profit for the period of the company also increased 57.3 percent to N2.96 billion from N1.88 billion declared the corresponding period of 2017.

Revenue grew from N33.0 billion in Q1 period of 2017 to N39.81 billion in the review period of 2018; representing growth of 20.6 percent, Forte Oil said in a filing with the Nigerian Stock Exchange (NSE).

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