MRS Oil Rises 36% after Q1 Earnings Forecast
MRS Oil Nigeria Plc attracted investors’ attention in the stock market after it forecasted N1.515 billion profit for first quarter of 2025.
According information from the Nigerian Exchange, NGX, the oil stock increased to N180 per share on Friday after a rush to get in by alpha seekers.
The oil stock picked up from N132, and rallied all throughout the week as demand heated up.
The strong price appreciation nudged MRS Oil Nigeria Plc market value to N61.718 billion, up by 36.4% over the last five trading session in the equities market.
MRS Oil expects its revenue to reach N129.358 billion in the first three months of operating in 2025.
Out of this, the company expects it costs of sales to print at N124.543 billion. Thus, gross profit is projected to settle at N4.814 billion in the first quarter of 2025.
The oil company’s pretax profit is expected to settle at N2.245 billion in the period after taking care of its projected overheads which includes distribution and administration expenses, net finance costs. #MRS Oil Rises 36% after Q1 Earnings Forecast#
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