…Total revenue soared to N4.1 trillion a 44.86% growth
Oando has disclosed a full year pre-tax profit N47.7 billion in its latest unaudited financial report for 2024, released on the Nigerian Exchange January 30, 2025.
This figure shows a decline from the full-year pre-profit of N102.9 billion reported in 2023.
However, there was a strong recovery in the fourth quarter of 2024, where Oando Plc posted a pre-tax profit of N16.6 billion, bouncing back from a loss of N29.5 billion in the same quarter of the previous year.
Oando reported a revenue increase of N87.96% in the fourth quarter of 2024, reaching N932.4 billion, up from 496. 1 billion in the same period the prior year.
Meanwhile, total revenue for the full year ended December 31, 2024, soared to N4.1 trillion a 44.86% growth the year-over-year from N2.8 trillion reported in the previous year.
Notably, the supply and trading of crude refined, and unrefined petroleum products contributed substantially to the annual revenue figure.
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