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 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.