logo
Plus   Neg
Share
Email

Total Q1 Profit Rises

Total (TTA.L,TTFNF.PK,TOT) reported that its net income group share for the first-quarter rose to $3.11 billion or $1.16 per share from $2.64 billion or $0.99 per share in the prior year.

But, adjusted net income Group share declined 4% to $2.76 billion from the prior year's reflecting the increase in the net cost of net debt compared to a year ago mainly due to the rise in U.S. dollar interest rates. Adjusted earnings per share decreased by 6% to $1.02, from $1.09 in the prior year.

Revenues from sales for the quarter grew to $45.12 billion from $43.29 billion last year.

The Group is continuing to implement its shareholder return policy. The dividend in euro will be increased by 3.1% in 2019 representing a total increase of 6.5% since 2017 in line with the target increase of 10% over the period 2018-2020.

Total said it will buy back $1.5 billion of shares in 2019 at $60/b as part of its $5 billion share buyback program over the 2018-2020 period, and it will eliminate the scrip dividend option as of June 2019.

The Group maintains its spending discipline in 2019 with a net investment target of $15 billion - $16 billion, cost savings of $4.7 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Libra Association, formed by major financial partners of Facebook's Libra cryptocurrency project, formalized the association at the inaugural Libra Council meeting of the members at its headquarters in Geneva, Switzerland. The current 21 member organizations formally signed onto the Libra Association charter, elected the Board of Directors, and appointed the executive team. Department store chain Kohl's Corp. has unveiled its Kohl's Cares holiday collection that includes the Disney Frozen 2 and Holiday Character bundles. The company's philanthropic program, Kohl's Cares, sells children's books as well as toys and donates the entire profit to charitable initiatives nationwide. Children's Place Inc. (PLCE) said that it will relaunch the Gymboree brand in the U.S. and Canada in early 2020. The brand will be relaunched in Gymboree website, and in shop-in-shop locations in more than 200 Children's Place stores in the U.S. and Canada.
Follow RTT
>