Okomu Oil Plc Records N37 Billion In Profit In 12 months 2021
Okomu Oil Plc, an agro-allied company, released its 2021 FY Unaudited Financial Statement revealing stellar performance in the top and bottom income line items.
Brand News Day Nigeria reports that Okomu Oil Plc’s financial result revealed a 60% growth in revenue from N23.41 billion in 2020 to N37.46 billion in the current period.
However, in Q4 2021, the company reported a 33.82% growth in revenue of N4.79 billion from N6.41 billion in the corresponding period of 2020, while net profit in the same quarter, stood at N2.45 billion.
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The company which specializes in the cultivation of oil palm and in the extraction, refining, and processing of fresh fruit bunches into crude palm oil for resale, amongst others, solely generates revenue from the sale of its products.