One aspect working in the company’s favor is its consistent earnings. A cursory review of Conoil’s financial performance reveals a consistent revenue and earnings trend over the past five years with a compounded annual growth rate (CAGR) of 7.58% and 37.31%, respectively.
In 2023, Conoil sustained this growth momentum, recording an impressive 53.24% year-on-year growth in revenue to N20.387 billion, primarily driven by a 62% expansion in its white products segment, which contributed around 97% of the company’s total revenue.READ MORE
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