Oando Plc has significantly narrowed its first-half pre-tax loss by 77%, driven by a return to profitability in the second quarter.
The improvement marks a notable operational shift for the Nigerian energy company, which had reported losses in the prior period.
35% in the week ended July 10, signaling a decisive shift in market momentum as buying interest intensified across the board.
The financial update arrives as sentiment on the Nigerian Exchange (NGX) has strengthened considerably.
Nigerian equities surged 6.35% in the week ended July 10, signaling a decisive shift in market momentum as buying interest intensified across the board.
This positive trajectory continued into late July, with the NGX closing the week ending July 24 with a market capitalization of N159 trillion.
The exchange recorded a N2 trillion gain during that period, fueled by sustained institutional buying in core sectors.