Seplat nets $62m in half-year profit

Seplat Energy Plc recorded an impressive half-year (H1) 2021 scorecard with profit before deferred tax (PBT) of $62.1 million, representing an increase of 142.7 per cent as against H1’20.

Highlights of the company’s financial further showed that revenue went up 32% to $308.8m in H1’21, from $233.5m in H1’20; earnings before interest, taxes, depreciation and amortization (EBITDA) of $178.9m, the firm said in a notice signed by Emeka Onwuka, its Chief Financial

Officer.

Cash generated from operations was $125.8m, cash at bank was $298.8m and there was net debt of $456.4m.

In the half-year period, Seplat pronounced an interim dividend of S2.5 cents per Ordinary Share, subject to appropriate withholding tax (WHT), to be paid to Seplat Energy’s shareholders whose names appear in the register of members as at the close of business on August 12, 2021.

Both the Nigerian Exchange (NGX) Limited and London Stock Exchange (LSE) hosted

Seplat Energy Plc on Thursday to commemorate its first dual Capital Markets Day.

The firm said the event marked an important milestone for it; marking its name change from Seplat Petroleum Development Company Plc to Seplat Energy Plc.

On or around September 13, 2021, it said the interim dividend will be paid electronically to shareholders, who also have completed the e-dividend registration and mandated the registrar to pay their interim dividend directly into their bank accounts.