Capital Oil Plc has gone through a major turnaround exercise since January 2012, an initiative that the key shareholders embarked upon to rescue it from imminent collapse and restore value to all shareholders. This initiative, welcomed by other shareholders and indeed regulators, has successfully restored a future to the Company.
Within the first 12 months of the initiative, the Company’s recent 3-year trend of losses (2009 – 2011) was alter; and profitability was restored. In 2012, turnover rose to almost N2 billion from the operation of over 11 service outlets, all reactivated during the period.
The Company continues to make progress based on key performance indices and clearly, a new dawn has arisen! The future is very bright and exciting for Capital Oil Plc.