Seplat Energy PLC, a leading Nigerian independent energy company, has announced its audited financial results for the twelve months ended December 31, 2024, posting a remarkable 347% increase in profit before tax to N561.4 billion.
Key Point: The company's impressive performance was driven by strong operational and strategic progress, including the transformational acquisition of Mobil Producing Nigeria Unlimited (MPNU), now renamed Seplat Energy Producing Nigeria Unlimited (SEPNU).
The company's financial highlights include:
- 347% increase in profit before tax to N561.4 billion
- 137% growth in revenue to N1.652 trillion
- 67% increase in cash generated from operations to N567.5 billion
- 11% growth in reported production to 52,947 boepd
Seplat Energy's CEO, Roger Brown, expressed pride in the company's achievements, citing the successful acquisition of SEPNU and the delivery of key growth projects. The company's confidence in its future trajectory has led to the declaration of a special dividend, lifting the total 2024 dividend to $16.5 cents per share, a 10% increase from 2023.
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