Seplat grows $62.1m half year profit before tax, declares interim dividend of 2.5 cents per share

Seplat Energy Plc has recorded an impressive half year scorecard, posting profit before deferred tax (PBT) of $62.1 million.

The amount represents an increase of 142.7 per cent as against negative of $145.3 million reported in first half of 2020.

The highlights of the company’s financial result released at the Nigerian Exchange (NGX) showed that revenue went up by 32 per cent to $308.8 million within the period under review from $233.5 million recorded in the same period of last year.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) was $178.9 million; cash generated from operations stood at $125.8 million, cash at bank was $298.8 million and net debt went to $456.4 million.

In the half year period, Seplat proposed an interim dividend rate of US2.5 cents per Ordinary Share, subject to appropriate withholding tax (WHT), to be paid to Seplat Energy’s shareholders whose names appear in the Register of Members as at the close of business on August 12, 2021.

The company explained that the hosting of Seplat Energy by both the Nigerian Exchange (NGX) Limited and London Stock Exchange on July 29 was set to commemorate Seplat’s first dual Capital Markets Day . The event according to the management marked an important milestone for Seplat marking its name change from Seplat Petroleum Development Company Plc to Seplat Energy Plc.

Blueprint Whatsapp