Oando Climbs 10% Ahead of Scheduled Earnings Release
Oando Plc climbed by more than 10% as the oil-linked stock drew investors’ attention ahead of the group’s scheduled earnings release in June 2026.
The company’s share price rose 10.41% to N53 at the close of the last trading session last week, as 12.461 million units valued at N654.918 million were traded on the local bourse.
Oando’s share price rose from N48 at the beginning of the week to close at N53, a significant discount to its 52-week high on the Nigerian Exchange.
The market value of Oando Plc.’s 12.431 billion outstanding shares increased to N658.864 billion over the holiday-shortened trading sessions. At its current price, Oando is trading 25% below its 52-week high on the local bourse.
Earnings delay had plunged the company’s valuation, reflecting investors’ negative sentiment. The market anticipates higher oil prices to drive the company’s earnings growth in 2026.
Oando is currently planning to release audited financial statements for 2025 and the first quarter of 2026. In a statement, Oando said the Board of Directors has now approved the Company’s 2025 audited financial statement.
It told the Nigerian Exchange that Oando management has subsequently submitted them to the Financial Reporting Council of Nigeria (FRCN) for final regulatory review, in accordance with applicable statutory requirements.
Oando said it will proceed with formal publication following receipt of regulatory clearance from the FRCN, a process expected to be completed on or before June 12, 2026. The Company told the regulator it intends to publish its Q1 2026 Unaudited Financial Statements on or before 30 June 2026.
