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Total Nigeria declares N292bn as turnover in FY’19

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Mixed blessings for Nigeria as crude oil prices crash

Adebayo Obajemu

Total Nigeria Plc in its recently published audited financial report for the year ended 31, December, 2019 reported a turnover of N292.18 billion. This implies a decline of 5.13% when compared to the turnover of N307.99 billion in 2018.

Profit before tax declined by 74.62% to N3.07 billion from N12.1 billion reported in 2018 year ended.

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The oil firm reported a profit before tax of N2.28 billion, down by 71.37% when compared to the the profit after tax of N7.96 billion reported in 2018.

Earnings per share of Total Nigeria Plc fell to N6.71 from N23.45 reported in 2018, implying 71.37% decline.

With reference to the share price of N102.8, the P.E ratio of Total Nigeria Plc is calculated as 15.32x with earnings yield of 6.53%.

The oil firm declared a final dividend of N6.71 to shareholders subject to appropriate withholding tax

Qualification date is June 4, 2020Closure date: June 5 to June 11, 2020.Payment date: Within 24 hours after Annual General Meeting (AGM). Date yet to be disclosed

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