Japaul Oil and Maritime Services Plc recorded turnover of N785.961 million for the first quarter ended March 31, 2015. The result represents a drop of N2.32 billion or 74.6 per cent from N3.108 billion recorded the previous year.
The gross profit posted by the company down from N1.024 billion in the preceding year to N14.810 million,, declining by N87.590 million or 85.53 per cent against N1.024 billion achieved in the comparable period. The company recorded negative operating Profit before financial cost of N 676.199 million against negative N157.962 million reported in the preceding year.
The jacpaul three months financial result showed that total non current assets fell from N29.368 billion recorded in the previous year to N28.992 billion within the period under review while total current assets grew slightly from N4.521 billion to N4.909 billion at the end of March this year. The result showed that total current liabilities increased to N9.352 billion against N8.105 billion made in the corresponding period of last year. The non current liabilities dropped from N22.295 billion to N22.270 billion while net assets weent down from N3.488 billion to N2.278 billion indicating a decrease of N1.210 billion or 34.7 per cent.
