Okomu Palm Oil Plc (OKOMUO.ng) HY2022 Interim Report

Okomu Palm Oil Plc (OKOMUO.ng) listed on the Nigerian Stock Exchange under the Agricultural sector has released it’s 2022 interim results for the half year.

For more information about Okomu Palm Oil Plc (OKOMUO.ng) reports, abridged reports, interim earnings results and earnings presentations visit the Okomu Palm Oil Plc (OKOMUO.ng) company page on AfricanFinancials.

Indicative Share Trading Liquidity

The total indicative share trading liquidity for Okomu Palm Oil Plc (OKOMUO.ng) in the past 12 months, as of 5th July 2022, is US$12.28M (NGN6.84B). An average of US$1.02M (NGN569.78M) per month.

Okomu Palm Oil Plc 2022 interim results for the half year

Company Profile

Okomu Palm Oil Plc manufacture and market Banga Palm Oil in Nigeria as well as a range of Noko 10 rubber bands. The company was established in 1976 as a Federal Government pilot project set up to rehabilitate oil palm production in Nigeria. At the time, the pilot project incorporated 15 589 hectares of which 12 500 hectares was planted with oil palms. In 1985, Okomu Palm Oil Plc installed a 1.5 tonne fresh fruit bunches/hour mill. The company was privatised in 1990 and has grown to become Nigeria’s leading oil palm company with some 14 000 hectares of land currently planted with palm oil trees and 8 000 hectares of rubber trees. By 2020, an additional 4 000 hectares of palm oil trees and 1 500 hectares of rubber trees will have been planted on the 33 000 hectares of private land owned by Okomu Palm Oil Plc. The company operates two 30-tonne/per hour oil mills and an additional two 30-tonne/per hour mills will be operational by 2020/21. Its technical partner, SOCFINAF (Luxemburg), has a 53.32% stake in the business. SOCFINAF (Luxemburg) was founded in 1912 and was the first industrial company to plant oil palm trees in Africa and Indonesia. Today, it has plantations and oil palm operations in Sierra Leone, Ghana, Cote D’Ivoire, Liberia, Nigeria, Cameroon, the DRC, Sao Time and Cambodia. Okomu Oil Palm Plc’s head office is in Lagos, Nigeria. Okomu Palm Oil Plc is listed on the Nigerian Stock Exchange