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THE REAL AND NEW DIRECTORS BEHIND THE NEWLY INCORPORATED NNPC LIMITED NAMED BY PMB - Ben Television | Breaking
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NGX: Equities investors gain N320bn in July
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TOTAL Nigeria Plc, a multinational oil and gas company, has recorded a whopping 1,601% growth in net profit, from a loss of N537 million naira in the corresponding quarter of 2020 to N8.07 billion in the current period. In the same period, the company recorded an increase of 105.65% in gross profit, from N12.40 billion to N25.50 billion in the current period, despite the 33.44% increase in cost of sales.
Why the impressive growth?
Despite the losses recorded in the corresponding quarter of 2020, the company has been able to deliver this impressive result that can be attributed to economic recovery following the strong setback in 2020 during the heat of the pandemic, which saw economies and organizations experience recession and record major losses or zero to no profit, thanks to the abrupt interruption in economic activities.
TotalEnergies half-year profit hits N8 1billion as firm plans interim dividend
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By Chinyere Joel-Nwokeoma
Lagos, July 14, 2021 Key indices of the Nigerian Exchange (NGX) closed on Wednesday with a marginal growth of 0.04 per cent on renewed bargain hunting.
Accordingly, the All-Share Index grew by 15.31 points or 0.04 per cent to close at 37,872.55 from 37,857.24 recorded on Tuesday.
Thus, the month-to-date and year-to-date losses moderated to 0.1 per cent and 6.0 per cent, respectively.
In the same vein, the market capitalization inched higher by N8 billion to close at N19.732 trillion against N19.724 trillion on Tuesday.
The positive performance was driven by price appreciation in large and medium capitalised stocks amongst which are; Total Nigeria, MTN Nigeria Communications (MTNN), NCR Nigeria, Capital Hotel and PZ Cussons.