MRS Oil Nigeria Plc has projected a revenue of N129.36bn for the first quarter of 2025, as revealed in its latest financial forecast.
In a corporate notice filed on the Exchange on Monday by its Chief Finance Officer, Muideen Salami The company anticipates a gross profit of N4.81bn, with cost of sales amounting to N124.54bn.
The company is also forecasting an operating profit of N2.3bn, after factoring in distribution, administrative, and other expenses of N2.61bn.
Other income is expected to total N86.94m, with finance costs set at N49.95m. Profit before tax for the period is projected at N2.25bn, while profit after tax is estimated at N1.52bn. The company’s earnings per share for the period are forecast at N4.42.
In its statement on cash flow, MRS Oil Nigeria expects operating cash flow before working capital changes to reach N1.77bn. Net cash generated from operating activities is projected at N1.85bn, while cash flow from investing activities is anticipated at N787.25m.
The company forecasts a net increase in cash and cash equivalents of N1.06bn, bringing its cash and cash equivalents at the end of the period to N7.29bn, up from N6.22bn at the beginning of the quarter.
Earlier this year, The PUNCH reported that the profit of oil & gas firm MRS Oil Plc rose by 272 per cent to N4.89bn in 2023.
