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Total Nigeria Plc records 0.7% increase in 2020 FY pre-tax profits

Total Nigeria Plc records (TOTAL) recorded a marginal boost in its 2020 FY pre-tax profits, as total revenue declined.

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Total Nigeria caught in the oil demand and lockdown saga

Total Nigeria Plc records (TOTAL) recorded a marginal boost in its 2020 FY pre-tax profits, as total revenue generated in the period declined.

Total Nigeria Plc – a Marketing and Services subsidiary of Total – reported pre-tax profits of N3.09 billion in 2020 FY compared to N3.07 billion recorded in 2019 – a 0.72% increase.

Key highlights for 2020 FY

  • Revenue declined to N204.16 billion, -30.13% YoY.
  • Revenues from petroleum products declined to N156.49 billion, -35.06% YoY.
  • Revenues from lubricants and others declined to N47.67 billion, -6.85% YoY.
  • Other income declined to N1.54 billion, -53.90% YoY.
  • Cost of sales declined to N173.97 billion, -32.34% YoY.
  • Finance Income increased to N2.26 billion, +96.84% YoY.
  • Selling and distribution expenses declined to N2.96 billion, -22.83%YoY.
  • Finance costs declined to N2.89 billion, -63.39% YoY.
  • Pre-tax profits increased to N3.09 billion, +0.72% YoY.
  • Earnings Per Share declined to N6.61, -1.49% YoY.

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

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Company Results

Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

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Focus: This small-cap oil company is seriously lagging behind

Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

  • Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
  • The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
  • It reported a loss per share of N1.11  in 2020 compared to N0.26 loss per share reported in 2019.
  • No dividend announcement was made in their press release.
  • The company share price of N0.30 unchanged YTD.

See link to results here

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Company Results

Conoil posts 23% post-tax profit decline in 2020 FY results

Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

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Conoil Plc released its 2021 FY results reporting revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.  

  • Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. 20.9% YoY 
  • The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.  
  • It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. 22.89% YoY. 
  •  No dividend announcement was made in their press release. 
  • The company share price of N20.85, up +0.72% YTD. 

See link to results here

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