Seplat yesterday led the gainers table with a price increase of 9.99 per cent to close at N945.80 a growth of N85.90. This can be attributed to the recent transaction the company is engaged in.
Investors are taking position to benefit from the proposed dividend by the board of directors of the company.
The company which is listed on both the Nigerian Exchange (NGX) Limited and the London Stock Exchange (LSE) unveiled its audited results for the full year ended 31 December 2021.
According to the document provided to the NGX by the Chief Finance Officer Mr Chukwuemeka Onwuka, the company’s profit after tax stood at N46.931 billion ($117.176 million) as against the loss of N30.712 billion ($85.322 million) in 2020.
The company last week announced a final dividend at a rate of US$0.025/share (2.5 cents) subject to shareholders’ approval at the 2022 Annual General Meeting; payable to Seplat’s shareholders whose names appear in the Register of Members as at the close of business on 5th May 2022.
The result further revealed a revenue increase of 38.2 per cent from N190.9 billion ($530.5 million) to N293.6 billion ($733.2 million). Loss before tax moved from N28.9 billion ($80.2 million) to a profit before tax of N71 billion ($177.3 million).
The income tax expense moved from N1.8 billion ($5.1 million) in 2020 to N24.1 billion ($60.2 million) in 2021, adjusted EBITDA up 40 per cent to $372 million and strong cash generation of $394 million against capex of $137 million (excluding cost of rig acquisitions).
The balance sheet stood at $341 million cash at bank, net debt of $426 million.
Others on the list of gainers table were Royal Exchange, Courtville, Veritaskap and FCMB with price gain of 9.49 percent, 9,09 per cent, 4.55 per cent and 3.23 per cent respectively.
Contrary to the 15 gainers list, 34 others led the losers table with cutix leading with a drop of 10 per cent.
The twin market indicators appreciated by 0.19 per cent respectively. The market capitalization added N48 billion to close at N25.591 trillion while the All Share Index improved by 88.20 points to close at 47,482.73 points.
In all investors traded 370.543 million shares valued at N7.853 billion across 6,045 deals.
