FO Declares N650m PAT in Q1 2019 Results; Approves Special Dividend of N1.15 per Share (SP:N34.95k)

Monday, April 06, 2019  08:18AM / NSE

Forte Oil Plc released its Unaudited first quarter results for the period ended March 31, 2019. 

Key Highlight

Revenue grew by +50% to N42.55bln from N28.36bln in the previous quarter.

PBT grew by 877.4% to N454.73mln

PAT grew by 498.1% to N650mln

Net Assets also declined by 73.1% to N17.03bln from N63.56bln as at 31st December, 2018.

The Board of Directors has approved a special dividend of N1.15 per share from the proceeds of the divestments of the subsidiaries of the company to its shareholders.

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Graph – One Year Share Price Movement

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