WorldStage Newsonline– Total Nigeria PLC, a marketing and services subsidiary of Total; a multinational energy company operating in more than 130 countries has released its forecast of statement of profit or loss and other comprehensive income for the quarter ending December 2020 with a projected profit of N1.577 billion as against loss of N537.188 million during the quarter ended June 30, 2020.
The forecast released at the Nigerian Stock Exchange and signed by Mrs. L. Baxter-Green – Executive Director projected revenue of N75.679 billion with cost of sales at N66.235 billion. The revenue during the period ended June 30, 2020 was N106.705 billion.
Total recently announced that its 42nd Annual General Meeting (AGM) will hold at The Panoramic Hall, Civic Centre, Ozumba Mbadiwe Street, Victoria Island, Lagos on Thursday the 24th day of September, 2020 at 11.00 a.m. to consider bond issuance programme of up to N50 billion.
For over 50 years, Total Nigeria Plc has remained the leader in the downstream sector of the Nigerian oil and gas industry with an extensive distribution network of over 570 service stations nationwide and a wide range of top quality energy products and services. Total Nigeria Plc was incorporated as a private company on June 1, 1956 to market petroleum products in Nigeria. In September 11, 2001, the company had a successful merger which paved way for sustainable growth and continuous development.
The share capital of the company after the merger is presently N169,761,000 made up of 50k ordinary shares authorised and fully paid up with Nigerian Citizens and Associations holding 38.28% of the share capital.
