Energy company, Seplat leverages rebound in oil prices to post impressive gains in nine months

Analysts have noted that Seplat Energy Plc leveraged the rebound in oil prices to boost revenues in the first nine months of 2021. This was disclosed at the Nairametrics ‘On the Money’ series held on the social media app, Clubhouse, on Saturday, October 30, 2021. While commenting on companies’ recent earnings, analysts noted that Seplat performed exceptionally, posting strong sales figures owing to the steady growth in oil prices during the period. Seplat Energy Plc, a leading Nigerian energy company dual-listed on the Nigerian Exchange and London Stock Exchange, recently filed its nine months financial statement for the period ended September 30, 2021, which revealed impressive gross earnings appreciating by over 34.70% from N135.62 billion in 2020 to N182.68 billion in the current period. Related posts Highlights Gross profit for the nine months recorded impressive gains of 83.44% from N31.69 billion to N58.13 billion. Operating profit surged to N62.61 billion from a loss of N27.44 billion in the previous year period. The post-tax profit for the period appreciated massively by 141.26% from a loss of N33.68 billion to record a profit of N13.90 billion The shareholders’ equity increased by N42.21 billion YtD to stand at N674.55 billion. What you need…
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