Oando (OAO) is an oil and gas company located primarily in Nigeria. It has listings on both the JSE and the Nigerian Stock Exchange. The problem with a share like this from a private investor's perspective is that it is highly risky. Firstly, it is a commodity share whose fortunes are determined by the international price of oil. Secondly, its business is located in Nigeria, which tends to be politically unstable. Oando's shares are also very thinly traded.
On 31st May 2024, the company published its results for the 12 months to 31st December 2023, reporting a 71% increase in turnover and an after-tax profit of 74.4 billion naira. Borrowings fell 23% to $488.9 million. On 3rd April 2024, the company announced that trade in its shares had been suspended by the JSE pending the publication of its year-end results for 2022 and its interim results for 2023. The share price is now 9c, but it remains suspended.
On 31st May 2024, the company published its results for the 12 months to 31st December 2023, reporting a 71% increase in turnover and an after-tax profit of 74.4 billion naira. Borrowings fell 23% to $488.9 million. On 3rd April 2024, the company announced that trade in its shares had been suspended by the JSE pending the publication of its year-end results for 2022 and its interim results for 2023. The share price is now 9c, but it remains suspended.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.