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Total posts N217.8 billion turnover, N4.67 billion profit for 2012

By on June 17, 2013

TOTAL Nigeria Plc has posted a turnover of N217.84 billion for its 2012 operations, against N173.95 recorded in 2011, while profit after tax also increased from N3.81 billion in 2011 to N4.67 billion during the year under review.

Reviewing the company’s performance at the 35th yearly general meeting of the company in Lagos at the weekend, the company’s Chairman, Mr. Momar Nguer explained that profit before tax stood at N7 billion, from N5.9 billion in 2011, adding that earning per share also rose from 11.23kobo to 13.76kobo in 2012.

Based on the improved performance, the company directors are proposing a dividend of N2.72 billion, translating to 800kobo per share to be distributed as final dividend for 2012 financial year.

The company has earlier distributed N1.02 billion dividend, culminating to 300kobo per share for the year ended December 31,2012.0.

Nguer assured shareholders that the company was well positioned to overcome the challenges of the business environment.

“We expect 2013 will be a year that will provide us the opportunities for growth and investment and within which we shall consolidate on our past achievements, take advantage of the projected growth the Nigerian economy will offer and deliver value to our shareholders and other stakeholders.

“We also envisaged that the year will not be without its own challenges but your company is well positioned to overcome the challenges of the business environment as she has the human capital and experience to do so,” he assured.

He explained that the company was one of the major players in the solar energy industry with the acquisition of 66 per cent stake in Sun Power which is one of the leading solar energy operators in the United States of America.

He pointed out that the company would roll out a new social business line called Solar Development Project aimed at providing accessible energy solutions to low-income segment in the next few months.

The company, according to the chairman, has commenced remodeling of its stations in line with the T-air concept.

The objective, he said, was to reinforce its network identity with a resolutely contemporary image and installations that were more energy-efficient as well as enable its sales outlet to blend harmoniously with the environment.

“The T-air provides a great opportunity for us as a company to differentiate ourselves from our competitors as it projects a strong and positive brand identity and delivers the brand promise of top quality which evokes customer loyalty.”

He said that the company had concluded plans to open a premium car wash service where customers could conveniently wash their cars using the automated jet wash service at Abuja in the next two months, adding that this would be extended to other stations within the year.

(Guardian)

One Comment

  1. Siddu

    July 16, 2013 at 8:01 am

    http://www.easykobo.com is the leading news portal for Nigerian Stock Exchange