Seplat reports 66.6% increase in PAT in Q1 2019

Seplat Petroleum Development Company Plc, has released its financial statement for the three months ended March 31st 2019.

Below are key highlights of the result:

Gross Earnings: Gross Earnings for the company declined from N28 billion in the first quarter of 2018 to N24 billion in 2019. This marks a 14.28% decrease year on year.

Profit Before Tax: Profit before tax reduced to N5 billion in 2019, from N17 billion in 2018, representing a downturn of 70.5%.

Profit after tax: Profit after tax however increased from N6 billion in 2018, to N10 billion in 2019, representing a boost of 66.6%.

Earnings Per Share (Diluted)

Diluted earnings per share also jumped from N11.11 in 2018, to N17.56 in 2019.

Current Share Price: Seplat Petroleum Development Company Plc closed at ₦568 in yesterday’s trading session on the floor of the Nigerian Stock Exchange (NSE).

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