Seplat Energy Plc has disclosed that its gross profit soared to N91.1 b in the first quarter (Q1) 2023, from N48.8 billion same period last year, rising by 69 per cent.The energy firm, in its unaudited result for the three months ended March 31, 2023, made available to The Guardian, also recorded a rise in profit before tax by 3.2 per cent to N39.5b from N34.7b year-on-year.
Commenting on the results, the Independent Chairman, Basil Omiyi, said: “Seplat Energy’s management and staff have once again delivered excellent performance, with production volumes up, unit production cost down and strong cash generation enabling the board to increase our annual core dividend target from US10 cents to US12 cents per share, paid in equal quarterly dividends. As a result,…
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Seplat posts N91.1b profit in 2023 first quarter
