Last 230.00 NGN
Change Today +2.02 / 0.89%
Volume 600.0K
FO On Other Exchanges
As of 8:30 AM 01/29/15 All times are local (Market data is delayed by at least 15 minutes).

forte oil plc (FO) Snapshot

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52 Week High
06/3/14 - 259.94
52 Week Low
02/27/14 - 83.98
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forte oil plc (FO) Details

Forte Oil Plc markets refined petroleum products for various automobiles and machines in Nigeria and Ghana. It operates through four segments: Fuels, Production Chemicals, Lubricants and Greases, and Power Generation. The company procures and markets motor spirits, automotive diesel oils, dual purpose kerosene, fuel oils, and Jet A-1 fuels; manufactures and sells various lubricants; and imports various industrial, organic, and petrochemicals, such as ketones, alcohol, pure aromatic solvents, plasticizers, water treatment, and foam chemicals, as well as offers marine supplies. It is also involved in the provision of aircraft refueling and defuelling services; aviation fuel delivery services; and insecticide, liquefied petroleum gas, and bitumen activities, as well as owning and operating aviation fuel storage facilities. In addition, the company manufactures and sells production chemicals and greases; supplies well production chemicals and drilling/completion fluids to the upstream sector of the oil and gas industry; and generates electricity through 414MW Geregu power plant located in Kogi State of Nigeria. It operates approximately 500 company owned, dealer-assisted, and dealer-developed retail outlets in Nigeria; and 8 retail outlets in Ghana under the trade name of AP Oil and Gas Ghana Limited. The company was formerly known as African Petroleum and changed its name to Forte Oil Plc in December 2010. Forte Oil Plc was incorporated in 1964 and is headquartered in Lagos, Nigeria.

223 Employees
Last Reported Date: 10/17/14
Founded in 1964

forte oil plc (FO) Top Compensated Officers

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forte oil plc (FO) Key Developments

Forte Oil Begins Discussions On Possible Acquisition

Forte Oil Plc (NGSE:FO) has begun initial discussions with a downstream company with the intention to acquire the assets of the said company. Discussions on the proposed acquisition is still in its infancy, but this announcement on this possible transaction is in the interest of full disclosure and ensuring that as a company, Forte Oil Plc adheres to the highest corporate governance practices and procedures.

Forte Oil Mulls Acquisitions

Forte Oil Plc (NGSE:FO) is seeking acquisitions. Akin Akinfemiwa, Chief Executive Officer of Forte Oil, said that that the company will also diversify into the upstream space through acquisition of upstream assets to further enhance profitability going forward.

Forte Oil PLC Reports Financial Results for the Year 2013; Proposes Dividend for 2013

Forte Oil PLC reported financial results for the year 2013. For the year, revenue grew 41% to NGN 128 billion compared to NGN 91 billion for the same period in 2012. Profit before income tax increased 467% to NGN 6.52 billion compared to NGN 1.15 billion recorded in 2012. Profit after income tax increased 397% to NGN 5.00 billion compared NGN 1.01 billion for the same period in 2012. Earnings Per Share grew 365% to NGN 4.32 compared to NGN 0.93 for the same period in 2012. The company's growth in revenue is attributable to the significant increase recorded in the sales of its fuel products segment, comprising Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), Aviation Turbine Kerosene (ATK); as well as Production Chemicals; Lubricants and Greases. The newly acquired Power Plant also contributed significantly to the revenue stream. The group's profitability w as enhanced by interest income earned on bank deposits, following the implementation of efficient cash management strategies. The company has proposed dividend payout of NGN 4.31 billion at NGN 4 per share for 2013.


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Valuation FO Industry Range
Price/Earnings 47.6x
Price/Sales 1.4x
Price/Book 17.4x
Price/Cash Flow 33.8x
TEV/Sales 0.9x

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