Japaul suffered N13.08 billion loss in 2017


Japaul Oil & Maritime Services Plc said it booked N13.08 billion loss before tax for the full year 2017.

The result is an improvement compared to N21.34 billion pretax losses in 2017.

Total revenue for the full year came in low at N1.90 billion compared to N3 billion the company reported in 2016.

The company’s balance sheet is heavily stressed with N28 billion net liabilities.

It would be recalled that Japaul received a $350 million equity investment from US private equity firm, Milost Global. It is expected that the funding will boost the company’s fortunes.

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