Total Nigeria targets revenue of N75.6bn in Q4

Total Nigeria Plc has projected that it would achieve N75.6bn in revenue for the fourth quarter of 2020
EJ
Emeh Joy

Total Nigeria Plc has projected that it would achieve N75.6bn in revenue for the fourth quarter of 2020.

The projected figure was stated in its Q4 earnings forecast, which was obtained from the Nigerian Stock Exchange. The oil company also projected N66.24bn as the cost of sales within the same period (Q4).

Total Nigeria also targets to rake in N2.33bn as profit before tax and N1.58bn profit after tax during the period. It posted a loss after tax of N163.22m for the first quarter ended March 31, 2020, as against N474.089m posted in 2019.

The loss before tax stood at N136.99m compared to N418.30m posted in 2019. Revenue dropped by 9% from N77.42bn in 2019 to N70.24bn.

However, cost of sales stood at N62.49bn in 2020 from N69.29bn in 2019. Total also reported a 70% decline in profit after tax for the full year ended December 31 2019.

The oil firm, in a filing with the Nigerian Stock Exchange, said it posted a profit after tax of N2.42bn in 2019 as against N7.96bn posted in 2018.

Profit before tax was at N3.65bn from N12.09bn posted in 2018. A revenue drop of 6% was recorded from N307.99bn in 2018 to N290.88bn in 2019. However, the cost of sales was at N257.06bn in 2019 from N273.20bn in 2018.

Shareholders of Total Nigeria Plc had, in the past, approved a total dividend of N17.00 per share worth N5.77bn declared by the company for the financial year ended December 31, 2018.

The oil company had also distributed earlier, the sum of N1.02bn as interim dividend representing N3.00 per share.

Share With Friends