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[RESULTS] Total Nigeria Second Quarter Profits Gets a Major Lift

Research Team by Research Team
July 28, 2015
in Uncategorized
[RESULTS] Total Nigeria Second Quarter Profits Gets a Major Lift
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Total Nigeria Plc released its 2015 Q2 results reporting a profit before tax of N3 billion only.

Highlights

  • In line with economic realities revenues dropped QoQ  13.5% to N51.9 billion (2015 Q1: N60 billion)
  • Operating expenses surprisingly dropped 3.1% to N5.5 billion suggesting the company was able to hold up expenses in the second quarter considering the rising cost of doing business
  • The company however booked other income of N2.5 billion which it earned from the sale of an asset (notes to the accounts is yet to be sighted)
  • This helped boost second quarter pre-tax profits to N3 billion
  • Where it not for this sale, pre-tax profits would have dropped by about 20%
  • The company also received a considerable amount of cash from its trade debtors. It received N9.1 billion from  trade debtors and basically used the cash to pay part of its trade payables.
  • It also used part of the cash earned from other income to pay down about N9.8 billion in external loans.
  • Cash balance was thus reduced by about N6.8 billion this quarter.
  • Find summary of the result below

2015 Q2 vs Q1

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 TOTAL NIG PLC 2015 Q2 2015 Q1
 N’m N’m
 Income Statement%age Change
 Revenue     51,932     60,043-13.5%
 Cost of Sale   (45,448)   (53,492)-15.0%
 Gross Profit       6,484       6,551-1.0%
 Operating Expenses     (5,551)     (5,731)-3.1%
 Operating Profit          933          82013.8%
 Other Income       2,557            892773.3%
 Finance Cost        (434)        (284)52.8%
 Profit Before Tax       3,056          625389.0%
 Taxation     (1,312)        (402)226.2%
 Profit after Tax       1,745          223682.5%
 Tax as a %age of Profits42.9%64.3%-33.3%
 Indices
 Earnings per share (N)           5.1           0.7682.5%
 Outstanding Shares          340          3400.0%
 Debt To Equity749.8%120.1%524.5%
 Gross Profit Margin12.5%10.9%14.4%
 Operating Profit Margin1.8%1.4%31.6%
 Profit Margin3.4%0.4%804.7%
 SGA as a %age of Gross Profit85.6%87.5%-2.1%
 Interest as a percentage of Operating Profit46.5%34.6%34.3%
Tags: Nigerian Company Results
Research Team

Research Team

The Research Team at Nairametrics meticulously monitors, gathers, curates, and administers an extensive repository of both macroeconomic and microeconomic data originating from Nigeria and across Africa. Utilizing a variety of presentation formats—including documents, tables, and charts—our analysts disseminate key findings through the Nairametrics platform. Additionally, we regularly release insightful, research-driven articles that offer in-depth analyses of economic trends and indicators.

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