MRS Oil Nigeria Plc has announced a 63.39% increase in its full-year (FY) pre-tax profit, reaching N9.7 billion for 2024, up from N5.9 billion in the previous year. The strong performance was driven by robust sales of Premium Motor Spirit (PMS), despite a 60.67% decline in Q4 pre-tax profit to N403.5 million from N1 billion in Q4 2023.
Key Financial Highlights
- Full-Year Pre-Tax Profit: N9.7 billion, up 63.39% YoY from N5.9 billion.
- Q4 Pre-Tax Profit: N403.5 million, down 60.67% from N1 billion in Q4 2023.
- Full-Year Revenue: N312.2 billion, up 71.26% YoY from N182.3 billion.
- Q4 Revenue: N63.5 billion, down from N81.4 billion in Q4 2023.
Performance Drivers
- Strong demand for PMS, boosting full-year revenue.
- Improved operational efficiency and market expansion.
- Q4 revenue decline due to potential fluctuations in fuel distribution and seasonal factors.
Outlook for 2025
MRS Oil Nigeria remains well-positioned for further growth as demand for fuel products remains strong in Nigeria’s dynamic energy market.
READ ALSO Nigeria Takes Bold Step into Global Oil Trade Spotlight with BRICS Partnership
 pre-tax profit, reaching N9.7 billion for 2024, up from N5.9){kind=link}