Total Nigeria Plc 3 Months 2017 Financial Summary
| 3 Months Report TOTAL NIGERIA PLC | ||||
| 2017 N'000 |
2016 N'000 |
change | Year End | |
| Revenue | 80,462,810 | 59,704,845 | 35% | December |
| Profit/Loss before taxation | 4,250,361 | 3,843,316 | 11% | |
| Profit/Loss for the period | 2,671,515 | 2,824,622 | -5% | |
| Issued Shares (Units) | 339,521,837 | 339,521,837 | ||
| Basic Earnings Per Shares (Kobo) | 787.00 | 832.00 | -5% | |
| Last total dividend paid (Kobo) | 0.00 | 0.00 |
Total Nigeria Increased revenue by 35% Year on Year and also increased by 13.72% year on year. In the same vein, PAT declined by 5% year on year and 16.13% quarter on quarter. There was heavy pressure on the cost of sales which was 88.75% of revenue in Q1 2017 against 85.09% in Q1 2016.
A closer look at the result shows that Petroleum products
contribution to revenue grew by 31.37% while Lubricants and other grew by
64.56%. This is expected to be the new trend in this industry as the profit
margin on Petroleum product would continue to decline going forward.
We hope Total Nigeria would keep its cost low so that it can
stay above water. The Market should know at this point that, the windfall of
last year in terms of dividend may not be repeated. The industry will come fully to terms with the
removal of subsidy as reflected in the report of most of them in the last one
year.
Total Nigeria remains stable in terms of performance. The
stock closed at #263.00 on 26th April, 2017.
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