Agricultural Sector 9M-19 earnings: How well?

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

These are the 100 best companies to work for in Nigeria

The 2019 edition of the annual Jobberman Best 100 Companies to Work For features Shell in the top spot as the...

Nigeria’s GDP Rises By 2.28% On The Back Of Oil & Gas, Telecoms In Q3 2019

Nigeria’s Gross Domestic Product (GDP) grew by 2.28% (year-on-year), in real terms, in the third quarter of 2019. Compared...
- Advertisement -
- Advertisement -

The re-occurrence of smuggling of cheaper palm oil into the country and falling CPO prices in the early part of the year played a major role in the financial performance of agricultural sector player (Okomu Oil and Presco) as seen in their 9M-2019 financial performance. The revenue for 9M-19 decline y/y by 6.8% and 5.2% for Okomu Oil and Presco respectively. The bottom-line for the 9M-19 also followed suit to decline by 43.2% and 3 4.3% for Okomu Oil and Presco respectively.

Agricultural Sector 9M-19 earnings: How well?
@evablue; Adjamé Market, abidjan, ivory coast

Agricultural Sector 9M-19 earnings: How well?

However, despite the unenthusiastic 9M-19 financial performance for the sector, the Q3-19 financial performance of the sector responded to the positivity seen in that sector during the third quarter standalone performance. The third quarter stand-alone was enthusiastic, and this was buoyed by the partial border closure by the President which begins in August and also rising CPO prices across the globe. Both topline and bottom-line grew save for presco bottom-line that experienced a decline. Revenue for the third quarter standalone grew by 8 6% and 6% for Okomu Oil and Presco respectively when compared with 2018 third quarter standalone figure. Okomu oil bottom-line also grew by 2 2% while Presco declined by 5 1% owing to an increase in the cost of sales and Opex.

Read:  Nigeria’s Passport, Africa’s 42nd most powerful
Read:  Nigeria GDP Outlook 2019: Recovery is unlikely to return to pre-2015 high

Looking into 2020, we see a potential for further upside in sales volume, especially on a domestic level as there is a tendency for demand surge due to the complete border closure and favourable government policies toward the sector portent our positive outlook for the sector and the players therein.

United Capital Plc

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Streaming Platform Roku (ROKU.US) Q3 Revenue Exceeds Investors’ Expectations, TCL Electronics (01070.HK) is Roku’s Largest TV Partner in the US

SHENZHEN, CHINA - EQS Newswire - 22 November 2019 - Recently, Roku, the largest US streaming platform, released its financial report for...

Boutir Limited Won The Asia Innovatif+ Startup of the Year Award at Penang

PENANG, MALAYSIA - Media OutReach - 22 November 2019 - Boutir Limited, a leading social mobile commerce solutions provider and multi-channel commerce platform from Hong Kong, today...

Hong Kong Maritime Week 2019 launched

HONG KONG, CHINA - Media OutReach - 22 November 2019 - The "Hong Kong Maritime Week 2019" (HKMW 2019), a major annual event of...

Suncity Group’s Subsidiary, Sun Food and Beverage organized a Group of Macau Catering Entrepreneurs to Chengdu for Exchange

MACAU, CHINA - Media OutReach - 22 November 2019 - Since its establishment, Suncity Group has strived for diversified business development. The Group's subsidiary, Sun Food and...

More Articles Like This