However the loss declined sharply from 2010 as the company's operating expenses and cost of sales both declined.
April 27 (Lagos) - Beco Petroleum Products Plc reported a loss of N168 million for 2011, sharply lower than loss of N 316 million the company posted in 2010. Revenue declined slightly to N 2.68 billion in 2011 from N 2.78 billion in 2010. Operating costs fell by 6.8% to N 336 million in 2011 from N 361 million in 2010.
Beco Petroleum will not pay a dividend as a result of continued losses. Shares of company currently trade at 50 kobo per share at the Nigerian Stock Exchange in Lagos.
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