WorldStage Newsonline– MRS Oil Nigeria Plc, a Nigerian oil marketing company which previously traded as Texaco Nigeria Plc has released its performance forecast for the fourth quarter (Q4) 2020 with expectation to return to profit at N775 million and 254k earning per share from N329.712 million loss in the first half of the year.
MRS Oil which operates three business units through sale of petroleum at retail outlets or to industries, sale of aviation fuel and blending of lubricants was in profit in the second quarter at N725.995 million.
The forecast for the Q4 2020 indicated that turnover/revenue will be N125.39 billion as against N5.810 billion in the Q2 and N23.682 billion in half year 2020.
The forecast also envisaged an improvement in cash and cash equivalent at the end of the quarter to N5.192 billion from N1.48 billion at the beginning of the Q4 2020.
