[COMPANY ANALYSIS] Okomu Oil Palm: Expect outstanding result for third straight year | TheCable
The second half is not the critical earnings period for the company but despite its comparative leanness, the company may top up its closing third quarter profit of N18 billion to the region of N20 billion for the full year.
The first half of the company’s 2022 financial year accounts for much of the profit at the end of Q3 — as much as close to N17 billion. This is partly in line with the company’s earnings pattern due to off season effect but largely due to rapid increase in cost of sales it experienced in the later part of last year.
The company’s strong performance at half year provides the shock absorber that took the pressure from rising cost off the bottom line for the nine-month reading. The pressure from cost is expected to have sustained in the final quarter and the quarter-on-quarter profit decline can be expected for the company at full year.
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