Oando’s profit more than doubles


Revenue dropped to 194.55 billion naira compared with 280.32 billion in the same period last year, the firm said in a filing with the Nigerian Stock Exchange.

Energy company, [DATA OAO:Oando], which concluded the purchase of the Nigerian upstream oil and gas business from ConocoPhillips for 1.5 billion dollars in July, said it had proposed a 0.70 naira interim dividend from its half year profit and a 0.30 naira final dividend on its 2013 full year profit.

(READ MORE: Oando closes ConocoPhillips deal in Paris)


Shares in the oil and gas firm were up 9.5 per cent on the local bourse at 25.93 naira by 1218 GMT.