Total Plc reported revenue of N151.71 billion in 2020 9M compared to N221.84 billion in the same period of 2019.
Key highlights for 2020 9M
- Revenue decreased to N151.71 billion, -31.61% YoY.
- Revenue from petroleum products decreased to N117.36 billion, -35.41% YoY.
- Revenue from lubricants and others decreased to N35.87 billion, -10.66% YoY.
- Finance cost decreased to N2.57 billion, -58.25% YoY.
- Cost of sales decreased to N130.68 billion, -33.58% YoY.
- Pre-tax profits increased to N912.87 million, +880.56% YoY.
- Earnings Per Share increased to 1.47 kobo, +345.00% YoY.
Total Plc recorded decreased revenues from its two revenue-generating units and pre-tax profits also decreased. Companies have generally recorded decreased revenue in the last three quarters mostly due to COVID-19. Pre-tax profits increased significantly, thanks to the reduced cost of sales and finance cost.