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NSE Index falls by 2.3%, as Total declares N4.7bn PAT

By on April 15, 2013

Trading activities on the Nigerian Stock Exchange, NSE, recorded a downward trend last week resulting to a 2.29 percent decline in the All Share Index.

Specifically, the All Share Index declined by 787.16 basis points to close at 33,514.14 points from 34,301.30 points.

Another market indicator, the market capitalisation also depreciated by 2.46 percent or N270 billion to close at N10.71 trillion from N10.98 trillion.

The depreciation in the Index last week was as a result of the losses recorded in the share prices of U A C N Plc, Guinness Nigeria Plc, Lafarge Wapco Plc, Mobil Oil Nigeria Plc, among other share price losers.

Meanwhile, Total Nigeria Plc has declared a N4.7 billion profit after tax for its operating year ended 2012, representing an increase of 22.5 percent, when compared to N3.8 billion recorded in the same period of 2011.

A review of its full year audited financial report submitted to the Nigerian Stock Exchange, showed that the company grew its revenue by 25.2 percent to N217.8 billion from N173.9 billion in 2011.

Its gross profit appreciated by 16.9 percent, rising to N26.21 billion from N22.42 billion in 2011.

The company’s profitability was eroded by administrative expenses of N14.31 billion, which went down by 17.7 percent from N12.16 billion in 2011 and finance costs of N1.57 billion.

Total’s profit before tax rose by 21.2 per cent to N4.67 billion as against N3.81 billion in 2011.

Its balance sheet information showed that its total assets stood at N76.07 billion, increasing by 29.5 per cent, from N58.72 billion in 2011; while its net assets rose by 12.7 percent to N11.30 billion in 2012 from N10.03 billion in corresponding period of 2011.

( Vanguard )