Thursday, March 24, 2016 9.38AM / CardinalStone
Seplat Petroleum Development Company Plc (SEPLAT) FY'15 results has just been released - Despite reporting a 41% overall increase in production, revenue declined by 26.4% to US$570.5 million (
N113.0 billion), above our estimate (+7.8% deviation).
After tax earnings fell by 74.0% to US$65.6 million (
N13.0 billion) which was in line with our estimate of US$64.5 million (+1.7% deviation) and consensus estimate of N67.2 million (-2.3%).
EPS declined to US$0.12 (
N24.00) in FY'15 from US$0.50 ( N79.00) in FY'14.
The board of directors recommended a final dividend of US$0.04 per share (2014: US$0.09 per share), bringing the total payment for the year to US$0.08 per share (2014: US$0.15 per share).
1. Implications of a favourable Supreme Court ruling for Seplat in relation to OMLs 53 55
2. Slight positive reaction from the market likely to Seplat Q4 2015 Statement
3. SEPLAT s 2015 Revenue to be between US 550 mln and US 600 mln
4. SEPLAT set to deliver upside of 81.4 applies for 2yrs waiver extension
5. SEPLAT Issues Additional 10 134 248 Ordinary Shares