Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Company News

2015 Results: Seplat Stuns Investors With A 74% Drop In Profits

Nairametrics by Nairametrics
March 24, 2016
in Company News
Share on FacebookShare on TwitterShare on Linkedin

Seplat, Nigeria’s leading local upstream oil and gas company released its 2015 FY results on the London Stock Exchange today, showing profits dropped 74%. The company which has a dual listing in both the UK and Nigeria reported a profit after tax of about $65.6million (2014: $252.1m). The company reports its earnings in dollars.

The drop in profits was largely a result of the fall in oil prices recorded in 2015. Even though, production rose by 84%, the company still posted a revenue drop of about 28%. The average realised price for the company was $31, a 65% drop from a year earlier.

Despite the drop in profits, the  pretax profits beat its forecast by about 22.9%.

RelatedPosts

Seplat and Mobil deal: It’s time to consider moving on

Dangote Cement shareholders lose N409 billion on sell pressure

Source: ARM Research/Company Financials
Source: ARM Research/Company Financials

 

Highlights

News continues after this ad


  • Seplat Plc. posted a record output of 55kboed in Q4 15 (+55% YoY).
  • However, lower realised prices of $31/bbl (-55% YoY) amidst increase in extraction cost (+25% YoY) and fairly stable administrative expense weighed on operating profit $35 million (-63% YoY).
  • A tax charge of $21 million compounded the earnings pressure with Seplat posting Q4 15 loss-after tax of $3.1 million.
  • Management have proposed a final dividend per share of $0.04 (N8.00) bringing FY 2015 gross pay-out to $0.08 (N16.00) vs. $0.15 (N30.00) in FY 14.
  •  Current market price of N308/share implies a 2% premium to our FVE of N301.84 ($1.51).
  • ARM upgrade its rating on the stock to a NEUTRAL from SELL.

Related

Tags: seplat

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • SERAP threatens to sue INEC if 7 million Nigerians are not allowed to complete voters’ registration
    • Bitcoin on 5th day winning streak, hits highest level since June 13
    • Nigeria’s central bank, Africa Fintech Foundry to support 10 startups to boost eNaira adoption

    Follow us on social media:

    Recent News

    INEC plans e-transmission of results in Anambra poll, massive voter turnout in central zone

    SERAP threatens to sue INEC if 7 million Nigerians are not allowed to complete voters’ registration

    August 14, 2022
    Depegging sees Bitcoin hit $138,000 per token in UST

    Bitcoin on 5th day winning streak, hits highest level since June 13

    August 14, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com