Total Nigeria projects N115.97bn revenue

By Kayode Tokede

Total Nigeria Plc has projected a rise in its revenue to N115.97 billion for the first three months of 2021 (Q1, 2021).

This is a projection of 157.7 per cent increase from the figure recorded in Q3 2020.

This is according to the latest earnings forecast of the firm sent to the Nigerian Stock Exchange market.

Information obtained by our correspondent indicated that key highlights of earnings in the first quarter of 2021 as projected shows that pre-tax profit is expected to rise to N2.23 billion, +55 per cent Q-o-Q, while gross profit is expected to increase to N12.4 billion, +43.7 per cent Q-o-Q.

Other income is expected to rise to N811.8 million, +117.7 per cent Q-o-Q. Cost of sales is expected to hit N103.57 billion, +184.8 per cent Q-o-Q. Gross profit is expected to increase to N12.4 billion, +43.7 per cent Q-o-Q.

Other income is expected to rise to N811.8 million, +117.7 per cent Q-o-Q. Selling and distribution cost is expected to rise to N2.6 billion, +253.8 per cent Q-o-Q.

Administrative expenses are expected to increase to N7.92 billion, +31 per cent Q-o-Q. Operating profit is expected to rise to N2.7 billion, +35 per cent Q-o-Q. Net finance costs is expected to decline to N471 million, -16.1 per cent Q-o-Q, due to relatively higher projected finance costs for Q1’21.

The optimistic outlook by the firm might be attributable to predictions by analysts and experts of an upward trend in oil prices by 2021.