MRS Oil profit fell by 44% in Q2 2017

mrs oil

MRS Oil plc is reporting NGN303.4 million profit for second quarter 2017 compared to NGN546.3 million in the same period 2016, which represents 44% fall year on year comparison,

The company ended the period with NGN24.8 billion revenue in contrast to NGN28.7 billion in the year before and gross profit lowered to NGN1.9 billion against NGN3.5 billion in the year before.

MRS Oil plc said its total assets for the period was NGN74.6 billion compared to NGN81.3 billion in the previous year while total liabilities was NGN51.7 billion versus NGN59.2 billion in 2016.

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