WorldStage Newsonline-- Total Nigeria on Monday released its fourth quarter (Q4) 2011 results on the floor of the Nigerian Stock Exchange with 14.0 per cent growth in sales at N44 billion as against the same period last year, while full year sales grew by 8.3 per cent to N173.948 billion.
The oil marketer recorded a 5.9 per cent growth in profit after tax at N1.246 billion during the quarter, 4 per cent decline in full year at N3.813 billion due to high tax rate 34.9 per cent.
The company has proposed to pay a dividend per share of N7.00, implying a payout ratio of 62 per cent and a yield of 5 per cent.
According to analysts from FBN Capital, contrary to Mobil Oil Nigeria’s mixed set of Q4 results, Total’s results were quite strong and showed significant improvement from a Q3 2011 which was weighed down by increased competition.
“Pending management’s comments on the Q4 results, we think the most appropriate interpretation of Total’s financials is that the company has consolidated the market share it recovered after a shaky Q2-Q4 2010,” the analysts said.