Total Nigeria’s pretax profit rises to N3.09bn

Total Nigeria Plc has reported a profit before tax of N3.09 billion for the 2020 financial year, up from N3.07 billion in the previous year.

The oil marketing company, a subsidiary of French oil major Total, however, saw its profit after tax fall slightly to N2.24 billion from N2.28 billion.

Its revenue dropped to N204.16 billion last year from N292.18 billion in 2019 as the movement restrictions occasioned by COVID-19 affected fuel demand in the country.