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Conoil posts N70.23b turnover in third quarter


For the third quarter ended September 30, 2017, Conoil Plc has posted a turnover of N70.23 billion, higher than N63.95 billion recorded in the corresponding period in 2016.

The company’s gross margin also rose from N9.5billion in 2016 to N10.57billion in the period under review.

The company still recorded profit before tax of N2.03 billion in 2017 against N2.72 billion recorded in the preceding year.


“We will quicken our pace and sharpen our strategies in the coming months to meet our goal of moving from competing to winning in the market place, while focusing more on delivery and growth.”

According to the company, while the company expects that the economic environment would remain challenging for the last quarter of the year, it assured its shareholders of maximum value on investment, as well a excellent service delivery to customers.

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