Oando Plc reports N132bn loss after tax in 2020 year end

Oando Plc on Wednesday published its long overdue financial reports for 2019 and 2020. The reports includes also included all the outstanding quarterly reports.

In 2020 financial year, Oando reported a turnover of N489.986 billion, down by 15.02% from N576.572 billion reported in 2019 financial year.

A loss after tax of N132.57 billion was reported for the 12 months period, as against the loss after tax of N207.08 billion reported in 2019.

A negative EPS of –N10.66 was calculated for the year 2020, against the negative EPS of –N16.66 in 2019.

Just as the market is anticipating the release of the remaining Company’s Financial Reports for 2021 and Q1 2022, Oando released a publication of its intention to buyout minority shareholders of the company, which could eventually lead to delisting of the company from the Nigerian Exchange.

Source: Oando Plc reports N132bn loss after tax in 2020 year end – StocksWatch (stocksng.com)

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