After the drop in 2020 due to COVID-19, Oando Plc's profit before tax has surpassed pre-COVID-19 levels

Key Takeaways:

  • Despite recent gains, Oando Plc's earnings before tax have declined by 222% over the past decade.
  • Major losses occurred in 2019 and 2020, with a rebound in 2021 and 2023.
  • The company demonstrated remarkable resilience by recovering to ₦103 billion profit in 2023.
  • The earnings before tax in 2024 fell by 54% from 2023.
  • The year-on-year growth rate from 2015 to 2024 was shown to be negative despite recording ₦47.8 billion in 2024, as against -₦39.1 billion in 2015.

Oando Plc experienced losses before tax in 2015-2016 but achieved profitability in 2017 and 2018. In 2019, profit before tax fell to a startling ₦377 billion loss. The impressive recovery in 2021 was short-lived, as it was followed by losses in 2022.

However, 2023 represented a remarkable turnaround, with the decade's greatest earnings, followed by ongoing strong success in 2024.

Source:

Oando Plc Annual Report, NGX

Period:

2015-2024
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