12.02.2007 Business & Finance

Total Ghana records ¢41billion profit-after tax

By WallStreet
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Total Petroleum Ghana Limited, an oil marketing company, has recorded profit-after tax of 41.8 billion to close the 2006 financial year.

This represents over 205 per cent increase over the ¢13.7 billion figures recorded the previous year.

In an unaudited financial report available to WallStreet, the Company's turnover for the period jumped from ¢1.2 tr4illion in 2005 to ¢1.7 trillion in 2006, whilst its net assets also increased from ¢53 billion to ¢591 billion in 2006.

Analysts have attributed Total's impressive performance in the period under review to the take-over of Mobil Ghana Limited last year.

Even though Total Ghana is yet to declare a dividend per share for the period, stock analysts predict a boom fro shareholders saying; “With such an impressive performance the 2604 dividend per share declared in 2005 would be more than tripled.”

It has however declared earning per share of ¢6,662 for the period under review from ¢2,893 in 2005.

In 2006, Total issued over 4.7 million shares of no par value.

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