Oando records N10.4bn profit after tax for Q3 2018

Oando PLC (referred to as “Oando” or the “Group”), Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today announced unaudited results for the nine months period ended September 30, 2018.

Commenting on the results Wale Tinubu, Group Chief Executive, Oando PLC said:

“Today’s positive result is further evidence of the progress made by Oando in 2018 driven by our continued focus on execution and operational efficiency, supported by buoyant commodity prices. The outlook for the remainder of the year is positive and we remain committed to delivering on our value-based strategy towards improving our liquidity by reducing our gearing, improving our profitability by increasing production, and achieving growth via strategic alliances”

Source: Oando

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