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Seplat Plc.’s Earnings Bounced Back Strongly on Higher Oil Prices eplat Petroleum Development Company (Ticker: SEPLAT) Plc.’s earnings bounced back strongly on higher oil prices as the global economy heals gradually following the pandemic, analysts maintain buy rating due to strong upside potential. Profit margin had hit the bottom following the outbreak of coronavirus pandemic in the financial year 2020 when oil prices slide strongly due to lack of demand. In its first quarter (Q1) of 2021, the indigenous oil exploration and production company saw its profit after tax payment expanded from loss position to profitability. “We like that the company grew PAT by over two-fold in the period under review, a development triggered by higher oil price-induced expansion in revenue , rising 6.8% quarter on quarter”, Chapel Hill Denham said in a report.

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