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Chevron records 317% increase in Q3 PAT

By Michael Eboh
Chevron Nigeria Plc  has recorded a significant improvement in its financials, posting a 317 per cent increase in its bottom line for the third quarter financial performance.

This was after a tough operating environment and unimpressive financial performance recorded in its 2008 financial year.
According to its unaudited results for the third quarter ended, September 30, 2009, released to the Nigerian Stock Exchange (NSE), last week, the company’s turnover appreciated by 49.89 per cent in the year under review, from N36.26 billion in the similar period of 2008 to N54.35 billion in the period under review, while its profit after tax grew by 317.2 per cent to N1.31 billion from N314.7 million recorded in 2008.

Beta Glass Company Plc, in its unaudited result for the third quarter ended, September 30, 2009, financial statement, posted a turnover N7.81 billion, appreciating by 20.15 per cent from N6.5 billion recorded in the similar period of 2008, while its profit after tax appreciated by 25.56 per cent, from N895.9 million in 2008 to N1.13 billion in the period under review.

In its audited result for the year ended, December 31, 2008, Conoil Plc announced a 43.14 per cent appreciation in turnover, from N86.85 billion recorded in 2007 to N124.32 billion in 2008, however, its profit after tax dipped by 29.77 per cent from N2.6 billion in 2008 to N1.82 billion. To this end, the company is recommending to its shareholders for approval, a dividend of N1 per share.

Pharma Deko Plc, in audited result for the year ended, December 31, 2008, recorded a turnover of N1.11 billion from N790.4 million recorded in 2007, it posted a loss after tax of N198 million compared with a loss of N242.3 million in 2007.

Nigerian-German Chemicals Plc recorded an 8.37 per cent appreciation in its turnover for the year ended, December 31, 2008 financial statements, from N2.63 billion in 2008 to N2.85 billion, its profit after tax, however, dipped by 86.95 per cent to N17.94 million from N137.42 million recorded in its 2007 financial year.


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