CORPORATE BRIEF: OKOMU OIL PALM PLC RELEASED ITS UNAUDITED THIRD-QUARTER EARNINGS.

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Ellah Lakes discusses deal to acquire Delta State-based oil palm processing firm
Palm fruit ready to be taken to the mill.
In a recent Okomu Oil Palm & Company Plc unaudited  Q3 2017 report, revenue and net income grew by 52.0% and 53.1% respectively compared to Q3 ’16 figures. 
Revenue was mostly boosted by sales from the local market which accounted for 86.7% of the total while export accounted for the remnant (13.3%).   
Cost of sales spiked by 97.1% due to a significant increase in demand for Oil Palm and Rubber products as well as inflation pressure.  
Key Highlight:
  • Okomu Oil Palm Company Plc Q3 ‘17 revenue and net income came in at 52.0% and 53.1% respectively compared to Q3 ’16 figures.
  • Revenue was mostly boosted by sales from the local market which accounted for 86.7% of the total while export accounted for the remnant (13.3%).
  • Cost of sales spiked by 97.1% due to a significant increase in demand for Oil Palm and Rubber products as well as inflation pressure.
  • Growth in finance income was impacted by increased interest return on fixed deposit with DMBs which represents 97% of the total.
  • The increase in debt-to-equity ratio was due to a 5-year term loan obtained from Zenith Bank which expires in August 2020.
  • Our full valuation of the company will be undertaken and communicated soon.
Kindly click on this link to see full details on the Corporate Brief of the firm.