April 30, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)- First dual listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company Plc on Tuesday reported a profit for of N10.02 billion in its  first quarter (Q1) period ended March 31, 2019 compared to  N6.28 billion posted a year a ago; indicating a growth of 59.4 percent.

On the contrary, Seplat reported a pretax profit of N5.95 billion compared to a loss of N17.98 billion posted in the Q1 period of 2018; indicating a loss of 66.9 percent.

Revenue of the first dual listed Nigerian oil and gas upstream firm declined 11.4 percent to N48.94 billion from N55.23 billion reported the same period of 2018, Seplat said in a filing with the Nigerian Stock Exchange (NSE).

Shares of Seplat at the close of the session’s trading on the Nigerian bourse depreciated +1.23 percent to N575.00 from N568.00 per share recorded the previous session; with a gain of 7.00 per share.