Total Nigeria releases 2016 Audited Financial Results

Total Nigeria Plc has declared a profit of N14.8 billion for the 2016 financial year, ended 31st December 2016.
The profit signifies a 266 percent increase from N4.05 billion declared as profit in December 2015.

The company consequently proposed a reward of N7 per every 50 kobo of shares held by investors as final dividend for the 2016 financial year, amounting to N5.8 billion.

During the year ended 31st December, 2016 the Directors had authorized the payment of N10.00 as interim dividend as against N2 declared in 2015.

Further details of the released result show that Total increased its revenue by 40 percent to N290.95 billion from N208.02 billion.

Profit Before Tax was up by 213.6 percent to settle at N20.4 billion from N6.5 billion declared in 2015.
The oil company’s tax for the year shot up by 133 percent to N5.6 billion. Shareholders fund increased 45 percent to N23.6 billion and Total Assets settled at 136.9 billion from 83.7 billion, posting a significant growth of 63.7 percent.