Earnings Report

Interest on Delayed Subsidy Brightens Conoil Financials Full Year 2015- Div. N3.00 (Hold)

Financial Brief

  • Interest income on delayed subsidy payments, that is, the net interest cost claims received from PPPRA arising from delayed subsidy payments relating to products imported is N2.718 billion and this accounted for the large difference between the profit for the year, no figure of such was realized in 2014.
  • Out of the N3.33 earned for the financial year, N3.00 was proposed as dividend. That is 90.22% of the amount earned was paid as dividend.
  • Cost of sales is 86.09% of the turnover figure; this is almost same as the 89.26% posted in 2014.
  • Investment coverage is low at the 2.72x against the industrial average of 71.93x. The implication of this is that the firm may not be able to service more debts.

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Earnings Report

Interest on Delayed Subsidy Brightens Conoil Financials Full Year 2015- Div. N3.00 (Hold)

Financial Brief

  • Interest income on delayed subsidy payments, that is, the net interest cost claims received from PPPRA arising from delayed subsidy payments relating to products imported is N2.718 billion and this accounted for the large difference between the profit for the year, no figure of such was realized in 2014.
  • Out of the N3.33 earned for the financial year, N3.00 was proposed as dividend. That is 90.22% of the amount earned was paid as dividend.
  • Cost of sales is 86.09% of the turnover figure; this is almost same as the 89.26% posted in 2014.
  • Investment coverage is low at the 2.72x against the industrial average of 71.93x. The implication of this is that the firm may not be able to service more debts.

See full report

Comment here