WATCH THE VIDEO HERE Total Energies Marketing Nigeria Plc has reported a pre-tax profit of N11.279 billion for Q3 ending September 30, 2024, reflecting a 258.62% year-over-year increase and surpassing its Q3 pre-tax forecast of N6.270 billion. This brought the nine-month 2024 pre-tax profit to N41.850 billion, more than double the company’s total pre-tax profit for 2023. Also, according to the company’s Q3 2024 financial statements, revenue grew by 78.39% year-over-year to N263.963 billion, driven by the revenue from petroleum products Commentary Total Energy’s performance in Q3 2024 was impressive, surpassing forecasts across key metrics, including revenue, gross profit, operating profit, pre-tax profit, and post-tax profit. A lower profit margin, particularly when revenue is largely driven by a single income stream in the oil and gas sector, presents inherent risks. This concentration can make Total vulnerable to market fluctuations, including changes in commodity prices and regulatory shifts, which directly impact profitability. Effective cost management will be crucial for Total’s continued success. Despite cost pressures, Total has maintained a growth trajectory in profitability and consistently paid dividends, which investors value highly. This relatively strong dividend yield, coupled with strong financial performance, is likely to bolster investor confidence and may lead to further share price appreciation.
Total Energies beats forecast, posts N11.279 billion pre-tax profit in Q3 2024
