OANDO PLC: ALUTA CONTINUA BUT...

From the figures to September 2015 released by OANDO PLC this week, obviously the struggle for survival continues but it is winning gradually.
According to the figures, OANDO's main line revenue grew better in the third quarter when compared to half year and it increased by 58.7% on June levels although it is still 5,47% short of September 2014 mark.
Very clear improvement occurred in cost of sale as 146.9% growth by June slowed down to 41.7% by September thus reducing gross profit drop to 24.1% from 42% by June and as administration costs 146.1% increase came to only 3.14% rise by September.
One really surprise leap worth looking at closely when audited full year figures emerge is income from other sources which closed September at N15280m compared to a N2307.1m net loss by June and only N4735m surplus by September 2014.
However, despite all these improvements in key numbers OANDO still ended September with a loss of N52034.4m compared to September 2014 N3216m profit and lower N38583.2m loss by June.
This was principally because of another figure worth watching out for: By September, OANDO provided for N23599.8m loss from some assets which did not reflect in September 2014 at all.
HENCE:
* The verdict still is aluta continua especially since we are talking of unaudited figures.
* There is apparently room for OANDO to bounce back even if slowly if given a chance by stakeholders.

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