Total Nigeria declares N14.80bn profit in 2016 audited results

Total Nigeria (Total) has reported a N14.8 billion Profit After Tax (PAT) in its Q4 2016 results which was released at the Nigerian Stock Exchange, (NSE).

Total declared a final dividend of N7.00 (total dividend of N17.00) which is rather disappointing given the strong earnings growth recorded. This works out to a dividend payout of just 39%, the lowest in over two decades.

The result showed that sales grew 45% y/y, while profit Before Tax (PBT) and PAT were both up strongly, by 116% y/y and 148% y/y.

A breakdown by segments revealed that sales from service stations (Retail), which accounted for around 75% of group sales, were up by 39% y/y to N53.6bn.

Additionally, sales for the Aviation and Corporate (referred to as General Trade) segments were also up, by 78.1% and 67.7% respectively to N12.3bn and N4.9bn.

[DailyTrust]

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