Nigeria: Oando PLC Profit Rises in 1st Quarter 2006

Oando Plc, the Nigerian parent company of Oando Ghana Limited, one of Ghana's leading oil marketing companies, has shown early signs of putting up a record financial performance for 2006. The company churned up pre-tax profits of 909million naira (about ¢64.6 billion) for the first quarter of this year ended March 2006.

This represents an 8% rise in operating profit over the corresponding period of 2005.

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