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.