It said in a statement on its half-year financial statements
released on the floor of the Nigerian Exchange Limited, that this was 57.9per
cent increase against from N2.6bn gross profit recorded in the corresponding
period of 2021.
The statement said it recorded an operating profit of
N1.9bn, the group’s profit before tax increased by 200 per cent from N525m
recorded in 2021 to N1.5bn.
It added that the Group’s total assets for the period under
review stood at N58bn, while the total liabilities stood at N45bn.
According to the statement, it manufactures, markets, and
distributes lubricants and chemicals, and operates a network of filling
stations. Its plan is to further increase its retail network across the
country.
The statement said, “Also, it plans to actively play across
the energy value chain covering the production, transportation, and
distribution of energy solutions vital for economic growth and development.
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