Total Nigeria plc made history as net profit hits N8billion 2017

…pays N4.75bn final Dividend…

The total Nigeria plc’s management and board of the Director in despite the challenges has proposes for approval by shareholders the sum of N4.75billion representing another N14.00 (Fourteen Naira) to be distributed as final dividends for the year 2017 subject to the deduction of appropriate withholding taxes at the time of payment. The company earlier distributed the sum of N1.02billion as interim dividends representing N3.00 (Three Naira).

The Chairman stated this during the company Annual General Meetings (AGM) for 2017 in Lagos that in line with their dividends payment policy is the said dividends if approved will be paid to the various shareholders on June 22, 2018, a day after AGM.

In 2017, your company’s turnover was stable at N288billion compared to N291billion in 2016 showed a decline of N3billion. However, it delivered a profit After tax of N8billion representing the second highest ever in the history of Total Nigeria plc.

In addition, our lubricants business delivered a strong performance while our fixed costs evolution was kept below inflation rate. Also our credit control management was good as evidenced by a reduction in trade receivable balance compared to the previous year.

The Total Nigeria Plc, Chairman, Stanislas Mittelman said in our retail business, we trained about 7500 customer attendants and achieved 84percent Top Services mystery visits results which is the last 4years and successfully launched a Station Information Stysem(SIS) project. This will significantly improve our service delivery to our customers at stations, he added.

Mittelman noted that in the aviation sector, we added two new servicers into the fleet of re-fueling equipment to improve efficiency and customer satisfaction. Furthermore, we signed new contracts with major aviation counterparts.

“We have so far sold 342152 average solar lamps, thereby positively impacting two million lives based on an estimate of six persons per household. Because of the impact this has on the average Nigerian and society at large we sell this product at a discount and hope to get duty on the product.”

The Chairman also said that we increased our market share in lubricant from 26percent in 2016 to 28percent in 2017.  In, we increased our lubricants production capacity by 33% with the addition of two High Speed Machines at Koko in Sapele, Delta sate and at Kirikiri in Lagos state as well as carried out solarisation of the Lagos blending plant and developed power purchase offers for industrial use.

“Our people remain our greatest asset and are at the crux of our achievements and growth ascension. Staff development and training will continue to be one of the priorities in the years to come in order to align individual skills to the needs of the company.”

Mittelman reiterated that Total Nigeria Plc continues to blaze the trail as the clear market leader in the downstream sector of the Nigerian oil and gas industry with an extensive distribution network of service stations nationwide. For sixty-one years and counting we continue to provide to tier products and services to diverse clientele with an unflinching commitment to ethical standards, he added.

He said Total is committed to promoting a culture of equality, diversity, fairness, integrity and dignity. We actively pursue a feminization policy aimed at developing and empowering female managers.

 

The Caption Photo: The Chairman, Total Nigeria Plc, Stainislas Mittelman

 

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