BUSINESS

Okomu Oil Palm Grows Profit By 80.48% In 2021

Okomu Oil Palm Company Plc, a Nigeria-based company engaged in cultivation of oil palm, processing of fresh fruit bunches into crude palm oil for resale, rubber plantation and processing of rubber lumps to rubber cake for export has released its financial statement for period ended December 31 2021 with 12.29% decline in profit for the fourth quarter to N2.440 billion from N2.782 billion in Q4 2020.

However, profit for the full year jumped by 80.48% to N14.043 billion from N7.781 billion in 2020.

The company recorded a growth in turnover to N6.411 billion in Q4 from N4.791 billion in 2020 while the figure for the full year hit N37.457 billion from N23.411 billion in 2020.

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