DVCF Oil & Gas Offloads The Initiates Plc Stocks

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DVCF Oil & Gas Plc, One of the major shareholders in The Initiates Plc, has further reduced some of its stakes in the company.

In a notice to the Nigerian Stock Exchange (NSE), it was disclosed that DVCF Oil & Gas sold about 1 million units of the company’s stocks in its portfolio.

In the statement, it was further stated that the shares were offloaded by the company at a unit price of 0.57 kobo on Monday, September 7 at the exchange.

The Initiates Plc. (TIP) is a professional Waste Management company located in Port Harcourt Nigeria, delivering Waste Management, Industrial Cleaning and Decontamination services to both Private and Public sectors.

Transaction details

DVCF Oil & Gas Offloads The Initiates Plc Stocks

How’s Q2 2020 Profit and Revenue?

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The company declared N14.10m Loss in its Q2 2020 Unaudited results for the period ended June 30th, 2020.

In terms of profit, the company’s profit before tax declined by -119.9% to N10.73m while Profit after tax also fell by -231.8% to N14.10m. Its net assets declined by -2.8% from N882m to N857.39m.

Also, revenue declined by -7.7% to N246.35m from N266.99m in the previous quarter.

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DVCF Oil & Gas Offloads The Initiates Plc Stocks - Brand SpurDVCF Oil & Gas Offloads The Initiates Plc Stocks - Brand Spur

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