Total Energies Marketing Nigeria PLC, has released its financial results for the period ending on June 30, 2023, showcasing impressive revenue growth and profitability. According to the company’s financial statement filed with the Nigerian exchange, the company’s revenue surged by 31% to reach ₦274,602,860 compared to ₦209,014,372 recorded in the same period in 2022.
The company’s profit before income taxation also demonstrated a notable increase, rising by 6% to ₦13,476,053 from ₦12,732,574 in the previous year. The profit for the period amounted to ₦8,787,348, reflecting a 3% growth compared to ₦8,528,826 in the corresponding period in 2022. Additionally, the total comprehensive income for the period stood at ₦8,787,348, showing a similar 3% increase from the previous year.
Total Energies Marketing Nigeria PLC’s share capital remained steady at ₦169,761. However, shareholders’ funds experienced an 18% surge, reaching ₦51,944,199 from ₦44,061,716 in 2022.
The earnings per share (EPS) data based on 339,521,837 ordinary shares of 50 kobo each indicated an EPS of 25.88 Naira, representing a 3% rise from the previous year’s 25.12 Naira. Furthermore, the stock exchange quotation of the company’s shares increased significantly to ₦350.00 from ₦234.50, demonstrating a remarkable 49% growth.
Despite the positive financial performance, the company noted a slight decline in its workforce, reporting 424 staff members, down 3% from 435 in the previous year.
Total Energies Marketing Nigeria PLC’s statement of financial position as of June 30, 2023, revealed the company’s total assets amounting to ₦350,226,267, showcasing growth compared to ₦307,815,723 in 2022. The company’s equity stood at ₦51,944,199, accounting for 14.8% of the total assets.
The company’s financial report demonstrated its resilience and strategic positioning in the energy sector amidst evolving market conditions. Total Energies Marketing Nigeria PLC remains committed to delivering value to its shareholders and maintaining its leadership position in the industry.
These financial statements were approved and authorized for issue by the Board of Directors of the company on July 20, 2023. The company’s management and stakeholders look forward to continued growth and success in the coming periods.
