Total Nigeria Plc said it ended the first quarter of the financial year 2017 with NGN80.4 billion revenue compared to NGN59.7 billion recorded in the year before.
Its costs of sales for the period was NGN71.4 billion against NGN50.8 billion recorded in the year before.
the oil and gas company said its for the period in review was NGN8.9 billion slightly above NGN8.8 billion recorded in the year before. While its operating profit jumped to NGN4.4 billion against NGN4.0 billion recorded in the year 2016.
According to the document, Total recorded NGN4.2 billion as its profit before taxation in q1 2017 against NGN3.8 billion recorded in the year before.
After deducting its tax for the period, its profit for the period fell by 7% to NGN2.6 billion against NGN2.8 billion recorded in fiscal year 2016.
Total Nigeria plc said it acquired NGN150.3 billion assets in the period in review against NGN136.9 billion recorded in the year 2016. Its total liabilities was NGN124.1 billion versus NGN113.3 billion recorded in the year 2016.
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Total Nigeria Plc is a Marketing and Services subsidiary of Total; a multinational energy company operating in more than 130 countries and committed to providing sustainable products and services for its customers. For over 50 years, Total Nigeria Plc has remained the leader in the downstream sector of the Nigerian oil and gas industry with an extensive distribution network of over 500 service stations nationwide and a wide range of top quality energy products and services.
TOTAL NIGERIA PLC (RC 1396) was incorporated as a private company on June 1, 1956 to market petroleum products in Nigeria. In September 11, 2001, the company had a successful merger which paved way for sustainable growth and continuous development. The share capital of the company after the merger is presently NGN169,761,000 made up of 50k ordinary shares authorised and fully paid up with Nigerian Citizens and Associations holding 38.28% of the share capital.
