Total Nigeria records poor turnover, profit

May 2nd, 2007

Total Nigeria has recorded a no-too impressive turnover and profit after tax for the year ended December 31 2006. Audited results for the period show a turnover of N126.6 billion, slightly lower than the turnover of N126.72 billion recorded in the comparable period of 2005.
Ezenwa Onyeka

Similarly, the petroleum marketer achieved a profit after tax of N2.52 billion down from 30.19 per cent from N3.61 billion in 2005.

This poor performance has reflected on the company’s share price trend. A BusinessDAY study indicates that from November 15, 2004 to March 1, 2007, the company recorded a 4.68 percent drop in share price.

A breakdown shows that from N200.50 per share as at November 15, 2004, the share price fell to N190.00 on October 14, 2005. It went up briefly on July 14, 2006 as investors traded the shares at N192.51 per share. By January 5, 2007, it declined to N188.00 per share. It surged on January 9, 2007, trading at N95.00 per share and remained at the same level for January 11, 2007. By January 18, 2007, the bears took charge again as the share price crashed to N183.99 per share. On January 24, 2007, the equity was transacted at N180.50 per share. February 1, 2007, the share price stood at N185.00 per share. It climbed to N190.00 on February 7, 8 and 9, 2007 respectively. It however lost momentum and declined to N180.50 per share on February 14, 2007. On February 19, 2007, the share price was exchanged at N192.50 per share. For February 20, 2007, the share price of the equity was N189.50 per share. As at February 21, 2007, the share price went down again to N180.06 per share.

It was traded at the same price on February 22 and 23 and rallied on February 26 when it traded at N189.06 per share.

On February 27, investors speculated in the shares at N190.00 per share.

Total Nigeria fared better in earning per share rising from N7.83 in 2004 to N20.91 as at March 5, 2007.

The company paid a uniform dividend of N6.00 to holders of the stock in 2005, 2006, and as March 5, 2007.for 2004, it paid N5.50

A look at the Price Earning Ratio (PER) indicates 25.61 times for 2004, 22.12 times for 2005, and 18.08 times for 2006. As at march 5, 2007, the PER stood at 20.91 times.

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