Nigeria, June 4 -- Oando Plc reported a 265.2 per cent jump in net profit for last year, according to its audited financial statements released on Wednesday, as increased crude oil sales lifted turnover.

Revenue for the period rose to N4.1 trillion from N2.8 trillion a year ago, with sales of crude oil from its supply and trading unit accounting for the bulk of that sum.

The results include roughly four months of contribution from Nigerian Agip Oil Company (NAOC), which Oando acquired from Italian multinational oil giant Eni last August for a total consideration of $783 million.

Average daily production stood at 23,727 barrels of oil equivalent per day (boepd), a 3 per cent year-on-year increase, partly supported by NAOC's contribution...