TotalEnergies Marketing Nigeria Plc reported revenue of N1.04tn for the financial year ending 31 December 2024, representing a 64 per cent increase from the N635.95bn recorded in 2023.

The company’s revenue growth was driven by increased sales of petroleum products and improved operational efficiency.

This was disclosed in its statement of profit or loss filed on the Nigeria Exchange Limited on Wednesday.

This was disclosed in its statement of profit or loss filed on the Nigeria Exchange Limited on Wednesday.

The oil marketing firm also posted a profit after tax of N27.82bn, reflecting a 115 per cent surge from N12.91bn in the previous year. Profit before tax rose even higher, jumping by 140 per cent to N42.27bn from N17.58bn in 2023, indicating stronger earnings from core business operations.

Despite the financial performance, TotalEnergies Nigeria did not declare a dividend for 2024, a shift from the N25 per share dividend paid in 2023. The board of directors, in a resolution reached on 27 January 2025, provided no reason for the decision.

The company’s total assets grew by 43 per cent to N536.80bn in 2024 from N375.12bn in 2023, driven by an increase in inventories, trade receivables, and cash reserves. Non-current assets stood at N80.05bn, up from N58.41bn, reflecting further investments in property, plant, and equipment.

https://punchng.com/totalenergies-records-n1-04tn-revenue/