Oil and gas exploration and production powerhouse, Total Nigeria Plc, has declared a 70% plunge in its Full Year 2019 after-tax profit compared to the corresponding period of 2018.
This and other details of the firm’s financials are contained in Total’s Unaudited Financial Statement for the year ended 31 December, 2019, published on the website of the Nigerian Stock Exchange on Tuesday.
Revenue dipped by 6% from N307.988 billion at FY 2018 to N290.883 billion in the same period of 2019.
Profit Before Taxation (PBT) cratered to N3.652 billion at FY2019 from the N12.098 billion posted at FY2018, signalling a 70% decline.
Profit for the Year shrank by 70% from N7.961 billion at FY2018 to N2.422 billion at FY2019.
A 19.4% upsurge in Administrative Expenses from N19.945 billion as of 31st December 2018 to N23.812 billion in the same period last year accounted in part for the drop in profit.
Also contributing to th significant drop in profit was an expansion in Finance Costs which leapt to N7.856 billion at FY2019 from N4.461 billion at FY2018, translating to 76% rise.
Earnings Per Share (EPS) tumbled by 70%, falling from N23.45 at FY 2018 to N7.13 at FY2019.
Total currently trades on the floor of the NSE at N117 per share.
Earnings Per Share is the profit that each unit of a company’s ordinary shares yields during a particular period. It is simply calculated by dividing the Profit After Tax by the company’s total outstanding shares. Increase in a company’s EPS often reflects an improvement in its bottom-line while a fall, on the other hand, indicates a declining profit.
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