Conoil half year profit slumps 81 percent

Channels Television  
Updated August 6, 2012

Fuel marketer Conoil said on Monday its half-year pretax profit fell 81 percent year-on-year to N663.14 million compared with N3.5 billion a year earlier.

Turnover also declined to N76.2 billion during the period, from N79.9 billion last year, the fuel marketer said in a filing with the Nigerian Stock Exchange.

Conoil did not provide any reason for the fall in profit.

Its shares were trading flat at N23 at 1031 GMT.