Oando back in the black

Nigerian energy group Oando, which was suspended by the JSE on April 2 for failing to submit its earnings reports on time, has released its 2023 annual financial statements, returning to a profit for the period.

The group reported profit after tax for the 12 months ended December 2023 of N74.7bn after a loss of N81.2bn the previous year. Turnover rose 71% to N3.4-trillion, the company said in a statement on Monday…

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