CORPORATE BRIEF: Seplat Plc released its unaudited  Q3 earnings

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The firm’s revenue grew in Q3 2017 due to the force majeure that was lifted from the Fordacos terminal in the third quarter period and as a result caused the firm to significantly increase its production volumes. We expect this to positively impact the firms’ future performance.

Key highlights:

  • The firm’s revenue grew in Q3 2017 due to the force majeure that was lifted from the Fordacos terminal in the Q3 period and as a result, caused the firm to significantly increase its production volumes. We expect this to positively impact the firms’ future performance.
  • The firm returned to profitability in its 3 months (June to Sept) result, posting a profit of ₦6.8 billion. This improved performance aided in reducing its loss position. We expect the firm to post a positive position in its 2017 full year result.
  • The firm renegotiated its lending arrangements resulting in reduction in its total interest bearing loans and borrowings. However, this renegotiation led to an increase in its finance cost which adversely weighed on its bottom line causing the firm to post a loss position.
Kindly click on this  link  to see full details on the Corporate Brief of the firm.
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