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Nigerian Fuel Marketer MRS Swings to First Quarter Profit

Posted by May 9, 2014

Nigeria's fuel marketer MRS said on Friday it swung to a pre-tax profit of 321.21 million naira ($2.00 million) in the first quarter of the year, compared with 271.96 million loss recorded a year earlier.

Gross earnings rose to 24.16 billion naira from 15.62 billion naira in the same period last year, the former unit of Chevron (CVX) said in a filing with Nigerian Stock Exchange.

($1 = 160.95 Naira)

(Reporting by Oludare Mayowa. Editing by Jane Merriman)

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