Aug 2 (Lagos) - Japaul Oil & Maritime Plc reported unaudited financial results for the second quarter of 2012. Top line revenue increased by 17% to N 6.05 billion in 2012 from N 5.1 billion in the same period of 2011.

Cost of goods sold increased by 10% to N 2.35 billion the second quarter. Operating expenses increased by 21% to N 2.08 billion . Profit before tax increased by 8.4% to N 1.49 billion. Profit after tax increased by 23% to N 1.27 billion the second quarter of 2012 from N 1.03 billion in the second quarter of 2011.

Shareholders funds increased by 5% to N 23.71 billion. Total Assets grew by 4.8% to N 28.59 billion at the end of June 2012. Shares of JAPAUL currently trade for 63 kobo per share at the Nigerian Stock Exchange in Lagos. There are 6.23 billion outstanding shares for JAPAUL and they carry a P/E ratio of 3.29.

JAPAUL declared a dividend of 2 kobo per share for 2011 which was not well received by analysts but shareholders can expect a higher dividend payout for 2012 going by these results.

  reporting for easykobo.com on Thursday, August 2 2012 from Lagos, Nigeria