A Review of the Nigerian Energy Industry

Mobil, Julius Berger declare dividends for 2014

25 March 2015, Lagos – Mobil Oil Nigeria Plc on Tuesday announced its audited results for the year ended December 2014, showing a profit before tax (PBT) of N8.4 billion and profit after tax (PAT) of N6.392 billion. Based on the results, the directors recommended a dividend of N6.60 per share.

mobil-oil-logoAn analysis of the results showed that the petroleum products marketing firm, ended the year with a  revenue of N79.58 billion, up marginally from N78.7 billion recorded in 2013. Distribution expenses remained flat at N7.3 billion, while other income fell by 14 per cent from N2.75 billion to N2.37 billion.

Other expenses jumped by 55 per cent from N95 million to N147 million, while finance charges also rose by 22 per cent from  N152 million to N186 million.
The company gained N2.8 billion from an asset sold, which assisted in boosting its bottom line. Hence, Mobil Oil ended the year with a PBT of N8.446 billion, showing a growth of 65 per cent from N5.123 billion in 2013. PAT rose by 84 per cent from N3.481 billion to N6.392 billion. Consequently, the directors recommended a dividend of N6.60 per share, compared to N6.00 paid the previous year.

Also,  Julius Berger Nigeria Plc  has  announced its audited 2014 accounts, showing a decline of 19 per cent in profit. According to the results, the company recorded a revenue of N196.8 billion, showing a decline of 7.5 per cent compared to N212.7 billion in 2013.

Operating profit fell from N18.8 billion to N17.49 billion. However, finance cost rose significantly by 55 per cent from N2,962 billion to N4.593 billion. This led to a decline of 19 per cent in PBT from N16.2 billion to N13.1 billion, while PAT fell from 7.853 billion to N8.239 billion. The decline in PAT notwithstanding, the directors of Julius Berger recommended a dividend of N2.70 per share.

Meanwhile, trading at THE STOCK MARKET closed on a positive note with the Nigerian Stock Exchange (NSE) All-Share Index rising by 0.3 per cent to close at 29,584.00.  Similarly, market capitalisation added N26.2 billion to close at N9.9 trillion..

– This Day

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