Seplat Energy Plc (SEPL.L), a Nigerian independent energy company, Monday reported profit before tax of $207.4 million for the first quarter, significantly higher than $69.3 million in the same quarter a year ago, as the latest quarter included consolidate Seplat Energy Producing Nigeria Unlimited (SEPNU) contribution, while the previous-year quarter results were solely related to Seplat's Onshore assets.
Operating profit increased 190.7% to $238.2 million from $81.9 million last year.
Net profit was $20.2 million or $0.03 per share compared with $1 million or $0.002 per share a year ago.
Revenue for the quarter grew 350% to $809.3 million from $179.8 million in the previous year.
Production was 131,561 boepd in the first quarter, 167% higher than last year.
The company has declared a dividend of 4.6 cents per share, an increase from the prior quarter dividend of 3.6 cents per share.
For fiscal 2025, Seplat expects production of 120-140 kboepd.
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