₦airaland Forum

Striking FY 16 Loss: Is Seplat Plc Off The Hook? Sell Recommendation



We value Seplat’s Oil business at $1.72 per share and Gas business at $0.38 per share, having applied risked valuation methodology for contingent resources. The foregoing, combined with our exchange rate forecast of N360/$ for 2017, drives our FVE 21% higher to N346 (previously N285). Our FVE is at a 13% discount to last closing price of N396.

We have a SELL rating on the stock.

https://www.proshareng.com/news/Investors-NewsBeat/Striking-FY-16-Loss--Is-Seplat-Plc-Off-T/34320

FKO81:
https://seplatpetroleum.com/about-us/our-board/
Dr. Ambrosie Bryant Chukwueloka OrjiakoChairman

A.B.C. Orjiako, a co-founder of Seplat, was appointed as a director on 14 December 2009 and as Chairman on 3 March 2010.

After obtaining an M.B.B.Ch. degree in 1985 from the College of Medical Sciences, University of Calabar, Nigeria, Dr Orjiako trained as a General Surgeon at the Lagos University Teaching Hospital, Lagos, and later sub-specialised in orthopaedic and trauma surgery and became a fellow of the West African College of Surgeons in 1996.

Whilst still practicing at the National Orthopaedic Hospital, Igbobi, Lagos, Dr Orjiako established and managed various companies in the upstream, downstream and services sectors of the oil and gas industry in Nigeria. These include Abbeycourt Trading Company Limited (with which he traded crude oil and refined petroleum products with, amongst others, Glencore UK Limited), Abbeycourt Energy Services Limited, Zebbra Energy Limited and Shebah Exploration and Production Company Limited. He also has other business interests in construction, real estate development, pharmaceuticals and shipping.

Dr Orjiako went into full-time business in 1996 after eleven years of active medical practice. He co-founded Seplat in 2009 and became the Chairman, spearheading new business development and fundraising as well as providing leadership on strategy and stakeholder relationships. He is also the chairman of Neimeth Pharmaceutical International plc, which is listed on the NSE, and a director of MPI, which is listed on NYSE Euronext Paris.

Consolidating his firm commitment to philanthropy, Dr Orjiako founded the Daniel Orjiako Memorial Foundation (‘‘DOMF’’) in 1996 in honour of his late father, Chief Daniel O. Orjiako. The DOMF is committed to breaking the poverty cycle in rural Nigerian communities through education, healthcare services and economic empowerment through agriculture. The DOMF runs scholarship schemes for indigent students across the spectrum of education in Nigeria and has to date assisted towards the education of over 10,000 pupils in primary schools, over 200 in science education in post-primary schools and over 200 university graduates especially in medicine, engineering, pharmacy and geology. The DOMF also provides free care services to the elderly and micro-credits to rural farmers, particularly rural women. He further supports education and medical research through an endowment of a professorial chair in orthopaedics and trauma at the University of Calabar, Nigeria.

Between 2004 and 2006, Dr Orjiako attended Harvard Business School’s Owner’s and President’s Management Course and obtained a Certificate in Business Management in 2006.

In recognition of his services to humanity and the Roman Catholic church, Pope John Paul II in 2003 bestowed on him a Knighthood of the Order of St. Gregory the Great (KSGG), an award which earned him the title ‘‘Sir’’. In addition to receiving a KSGG from Pope John Paul II in 2003, he has also received numerous other awards including the Paul Harris Fellow of Rotary International for Philanthropy, Distinguished Alumnus Award and Doctor of Sciences (D.Sc. Honoris Causa) by the University of Calabar, Nigeria (2001), Doctor of Business Administration (DBA Honoris Causa) for entrepreneurship, Anambra State University, Nigeria (2006), Life Member National Association of Resident Doctors of Nigeria which he led in 1994/95 and Platinum Award of the West African College of Surgeons for Support of Medical Research and Training. In 2012, the President of Nigeria conferred on him National Honours as an Officer of the Federal Republic (‘‘OFR’’)


Abbeycourt Energy is focused on procurement, fabrication, installation and maintenance of production system operating assets with highly skilled teams, to optimise performance and to maximise profitability in a safe and forward looking manner.
read more
http://abbeycourtenergyservices.com/

ABC Orjiakor is also the chairman of Neimeth Pharmaceutical International plc, which is listed on the NSE, and a director of MPI, which is listed on NYSE and Euronext Paris.
Afonjas Igbos are not your mate

The firm said its revenue for the year suffered a 55 percent loss in 2016 to N63 billion versus N113 billion posted in the corresponding period of 2015.

Also, Seplat realised a gross profit of N16 billion in the period under review compared with N49 billion it made a year earlier, indicating a slump of about 71 percent.

In the same vein, the company’s net profit suffered a huge decline of 352 percent, resulting into a N45 billion loss in 2016 in contrast to N13 billion gain recorded 12 months before.


https://www.businesspost.ng/2017/04/01/seplat-declares-352-profit-loss-2016/

FKO81:
Oboy you are cr.o.o.k Oando with $1.5 billion revenue and 51% revenue increase. How did you arrive on $1.5 billion revenue in 2016 This is the real report Oando PLC Announces FYE 2016 Results, Posts N3.5 Billion Profit After Tax, EBITDA increased by 51%, N71.0 billion compared to N47.0 billion (FYE 2015)
http://www.oandoplc.com/press_release/oando-plc-announces-fye-2016-results

The International Brand Award Nominees and HSBS Global has named Mrs Tope Jemerigbe, managing director of DKK, as its Best Female Brand CEO of the Year 2014. At an event, which held at Sheraton Lagos on September 11, the organisers noted that Jemerigbe’s exceptional performance during the year in review put her ahead of other contenders.

Biodun Shobanjo is the chairman Nigeria largest marketing communication conglomerate and the founding CEO of insight communication


Biodun Shobanjo who currently serves as the Chairman of Troyka, with Jimi Awosika as the Managing Director / CEO.

Oando Posts N1.7bn PAT, Raises Revenue By 116%

https://www.thisdaylive.com/index.php/2017/05/02/oando-posts-n1-7bn-pat-raises-revenue-by-116/

Seplat Declares 352% Profit Loss for 2016



https://www.businesspost.ng/2017/04/01/seplat-declares-352-profit-loss-2016/

FKO81:
Ignoramus

SEPLAT is leading indigenous independent oil and Gas exploration and production company in Nigeria.

NSE financial statements published March 2017
http://www.nse.com.ng/Financial_NewsDocs/17235_SEPLAT_-_AUDITED_DEC_2016_FINANCIAL_STATEMENTS_MARCH_2017.pdf

Dr ABC Orjiakor co FOUNDER and Chairman SEPLAT

Seplat


The gross revenue of Seplat Petroleum Development Company Plc, an indigenous independent oil and gas exploration and production company, fell by 26 per cent in the 2015 financial year, figures provided by the oil company showed.

Its gross revenue for the full-year stood at $570m, down by 26 per cent year-on-year.

http://punchng.com/seplats-gross-revenue-falls-26/

Ondo

Turnover increased by 49%, N569.0 billion compared to N382.0 billion (FYE 2015) increased by 51%, N71.0 billion compared to N47.0 billion (FYE 2015)

http://www.oandoplc.com/press_release/oando-plc-announces-fye-2016-results-posts-n3-5-billion-profit-after-tax/

IBILE Oil and Gas Corporation (IOGC) is a Lagos State owned company established by law in 2013 to invest and engage in Oil and Gas activities in the upstream, midstream and downstream sectors of the Industry. We commenced operations in the 3rd quarter of 2016.

The name IBILE is an acronym of the five (5) Divisions in the state, which are Ikeja, Badagry, Ikorodu, Lagos and Epe.

Tope Borishade has managerial experience in banking, logistics, oil, gas and electricity businesses. He is presently an executive at the Chrome Group. He has also worked at Zenith Capital Limited in Lagos and the Chicago office of Deloitte & Touch LLP. Tope holds a B.Sc. in Accounting from Obafemi Awolowo University in Nigeria and an MBA from DePaul University in the United States of America. He is a member of the Institute of Chartered Accountants of Nigeria and the American Institute of Certified Public Accountants. He has participated in Executive Education Courses at the London Business School and CWC School of Energy. He enjoys networking and business development.

burkingx:

perez100:
What's APC in this issue? WACOT is a private business owned by the same owner of Chivita (Mr Finc - a German but managed by Indian) The Wacot import rice and rebrand it and sell to Nigerians. They also export sesame seeds, groundnuts and cassia tora they buy from local farmers. Just N10b investment and Buhari has not done anything with trillions of naira recovered.

GoldNiagara:
All afonja on nairaland not in nairaland. You hopeless.

MICHEALADEX:
Did you just type Minaj TV? Then you're making me think of Ghost companies, industries and names on that list. With ipob anyways all things are possible

greatnaija01:
NOW this is just DUUMB

who said their land was not good

who said they couldstu not grow ff like onion....

NIGERIA is blessed even during the colonial times... so no one should start claiming biafra is the reason for any land blessing

The days of small gods that people serve to bless crops and yields are OVER

NAIJA is far beyond this... The girl is just misinformed and very high on something...

whitetiger511:
You people don't know more than buying and selling. Sold car to Floyd mayweather and so; is it the car HE manufactured. If they want to talk about Floyd mayweathers car, will they mention the name of the person that sold it. If they want to talk about Michelle's clothes on the other handhand, duro olowu must come up. Identify the difference.

Lack of education is what is disturbing you people, every importer and trader is now an innovator. Shior.

Lloydfather:
you people are good at celebrating mediocrity.
No be some body dey sell ride to Floyd maywealther?

JohnXcel:
Don't mind those flat.heads.

We've explained to them the difference between a trader and an entrepreneur, dey no wan hear!

Difference between an Igbo man and Yoruba man when it comes to business:

SolidGenius:
DrinksNG really?? I give up on you confuse roaches... This is a terrible start idea. Very uglyyyy site, who will even buy from his classless inventories.

If this is your idea of a yeroba start up, then over 10,000 fast and more successful selling drinks joint in Aba should install a wordPress website and throw in some bottles as a homepage. Some things are rather disgraceful and shameful to present as a counter to the igbo thread.

Such a wasted tribe... Osunbade what do you have to say??

uglyafonja:
L5 LAB owned by Chika nwobi

A former employee of L5 Labs has told TechCabal that the startup incubator is using tough tactics that infringe his intellectual property rights in a bid to further their own venture, after declining to invest in his.
The individual, Tolulope Oladimeji, says that while he was in the employ of L5 Labs, he had approached the managers with an idea for a video curation website with a view to securing investment to fund its execution.
Tolulope registered the domain “wawo.tv” in 2013, and had created a Devour.com-like website that aggregates and categorises videos from YouTube.
In his account, Tolulope pitched wawo.tv to L5 Labs early in 2014, along with business model propositions and distribution strategies that would be uniquely suited to L5 Labs’ strong connections to telcos and other strategic media players via its affiliate VAS concerns. L5 Labs declined to invest.
In October, Tolulope left L5 Labs for Interswitch. On the 10th of November, L5 Labs got in touch to say they liked the wawo.tv domain and wanted to buy it off him. The negotiations, led by Emmanuel Malaka, stalled when Tolulope rejected their offer to acquire wawo.tv for the sum of N50,000.
Tolulope says that soon after, he learned from one of the managers that L5 Labs had gone on to acquire domain names that are more or less identical to wawo.tv. The domains that he discovered are wawotv.com , wawotv.net a

raker300:
Unity mines abia state

uglyafonja:
EKO HOSPITAL LIMITED, owned by Eneli obiora


Eko Hospital Limited was itself a successor to Mercy Specialist Clinic, which had operated successfully between 1977 and 1982. the practice has been growing in bounds due to the total commitment and dedication of the partners and staff and the high level of reputation and customer goodwill enjoyed. With a four (40 bed capacity clinic situated at Ebute-Meta, Lagos in 1977, the company has grown into a multi-service and multi-location hospital with operations in Ikeja, Ikoyi, Central Lagos, Surulere, etc. to cover the entire Lagos area.
n 1988, a Management Agreement was signed between Eko Hospital, Ikeja Ltd. And the Eko Hospital Limited whereby Eko Hospital Limited, was to manage Eko Hospital Limited. In 1988 the 1988 the management agreement culminated into the sales of all assets and liabilities of Eko Hospital Limited to Eko Hospital Limited. In compliance with the Companied and Allied Matter Decree 1990, the company by a special resolution passed in 1991 was re-registered as a Public Limited Liability Company (PLC), by a Board resolution in 1994 and approved at the Annual General Meeting; the Eko Hospital Plc was changed to Ekocorp Plc.
The Hospital has grown in leaps and bounds within twenty-five years. Today's, there are two full-fledged hospitals located at Ikeja & Surulere in Lagos. The ikeja facility is a private teaching hospital of 130 ends and state of the equipment. It is a tertiary institution with a wide range of therapeutic and diagnostic equipment. The Surulere hospital is a 40 bed Secondary healthcare facility. A third hospital is currently under construction at the new Federal Capital Territory, Abuja.
A diagnostic centre and Clinic is operational in Ikoyi of Lagos. The philosophy of the multi-hospital group is to provide excellent medical care at primary, secondary and tertiary levels. Today, the hospital has undergone significant transformation, as it is the only publicly quoted hospital business in Nigeria Stock E BACKSLASH BACKSLASH exchange under the auspices of the name EKOCORP PLC. The company enjoys tremendous goodwill and occupies an enviable position as a market leader in private hospital market sector.
The Concept
The need for a diabetes/endocrinology centre arose from the increasing number of diabetic patients picked up routinely during Comprehensive Health Screening and outpatient visits to the hospital and also from the frequent referrals of this and other endocrine disorders, together with our policy of providing adequate health education with efficient, comprehensive, diagnostic and therapeutic medical services.
The rapidly changing lifestyle in our environment caused by stress, dietary habits (fast & refined foods) sedentary life and increased alcohol intake has brought in its wake a rapid rise in the incidence of no communicable diseases and sudden deaths. The EKO Hospital, acutely aware of this trend, has set up this centre to meet all the requirements of diabetics and sufferers of other endocrinologiical problems e.g. thyroid, infertility, menstrual, hirsutism, obesity, pituitary etc
It is a centre for the dissemination and sharing of information, through screening of patients with investigations treatment and follow-up, all aimed at achieving an improved quality of life and a longer life expectancy.
The Team
The Eko Hospital has a highly qualified and highly skilled team of endocrinologists and support staff to meet this challenge.
The Head of the centre is Dr. S. F. Kuku, Consultant Physician and renowned endocrinologist with highly distinguished academic and professional career nationally and internationally. He works very closely with another Consultant Endocrinologist. Other members of the team include a Medical Officer, a House Officer, Nursing Sisters specially trained in diabetes/ endocrinology, a senior laboratory technologist, a podiatrist cum physiotherapist and a dietician.
This team is supported by experts including the Joint Chief Medical Directors, all of whom have long and relevant years of specialist experience. Twenty-five Consultants run specialist clinics in different fields. There are of course many other supportive part-time health care and hospice nurse. The Eko Hospital Offers an international standard, which gives patients the best comfort and nursing care
Changes at the back of the eye of a patient with Diabetes Mellitus, a leading cause of blindness
Core Staff
Medical
Consultant Endocrinoloists / Diabetologists Dr. S. Kuku who Heads the team is a past President of the Nigerian Society of Endocrinologist, and Past President of Pan African Diabetic Study Group
A Dietician
A Diabetic Nurse Educator
A Foot Care Specialist
A Consultant Ophthalmologist
Clinic day
Clinic days are Mondays, Wednesdays and Fridays at EKO Hospital 31, Mobolaji Bank Anthony Way, Ikeja.
We also work in close collaboration with endocrine centers overseas for update and research purposes.
Support Services
Full Comprehensive Endocrine Function testing including Basal Hormone Assays, stimulation and suppression tests.
Glycosylated Hemoglobin (HBAIC assays)
Immunological screen include thyroid antibodies, thyroid adrenal anti-nuclear antibodies etc.
Full renal Dialysis
The unit is backed by a full clinical laboratory, other specialties radiology including CT Scan, Cardiac Lab. Etc
Pediatric Endocrinology Services.
Radio-iodine therapy for thyroid disorders in conjunction the with the radiotherapy department.
The establishment of the Diabetes / Endocrinology centre within the confines of a tertiary hospital offers significant advantages, since there is a multidisciplinary approach to treatment of cases and consequently much better results. The Hospital refers all endocrinology cases to the centre, while the center takes advantage of already existing facilities (Beds, X-ray, Comprehensive Laboratory and other modern diagnostic equipment) and an array of consultants.
The numerous departments of the Eko Hospital Ikeja provide a wide range of specialists services appropriate to varied and comprehensive work of a teaching hospital. Amongst the Consultant services available are: General Surgery, Orthopedic, Surgery and Grammatology, Otorhinolaryngology Audiology and speech Therapy, Dental Surgery Ophthalmology, Radiology,, Physical Medicine, (Physiotherapy), Endoscopy, Anaesthesia, Obstetrics and Gynecology, Radiotherapy and Oncology
It is hoped that people will make very good use of

deomelo:
[img]http://3.bp..com/-EOFAElU9v2I/WXYqWmo7HcI/AAAAAAAAdNg/qnb00tcBqtoAfkptsWvaiOAFJvfsb3JEwCLcBGAs/s640/DFgYLIRXcAAV901.jpg[/img]

Odunayo Eweniyi’s story is one that is probably familiar to most young graduates. Leave school excited for the real world. Apply for several roles and go out on interviews. Wait to hear back from the interviewers. Keep waiting. Keep waiting. Keep waiting. Give up hope and become a permanent indentation on your mother’s couch. Instead of just wasting away until a job found her, she went out and created her own job by forming PushCV.

The Chapter Lead for the Nigerian chapter of Women in Tech Africa, wanted to create a platform where qualified candidates could get connected directly to job opportunities and cut through the delays. Odunayo shares with us where she thinks most young Nigerians struggle with getting a job, how she’s differentiating her company and what she believes is the most important element of a CV.

Why did you start PushCV?

We started PushCV right out of university. When I graduated I went on a couple of interviews and I never even heard back, despite being told that I passed the interviews. It went on like that for a bit, plenty of CV submissions and no call backs. So PushCV was borne of a personal need. I wanted to be more involved in how employment is done.

We started PushCV because we thought that employment and recruitment could be done better. Every other service was going digital, so why couldn’t recruitment move with the times? Hence we launched PushCV for people – both employers and job seekers – to fully harness the power of technology in the search for the perfect candidate or the perfect job.

FKO81:
Poin of correction

Adetokunbo Ogundeyin I wanted to be a manufacturer. So we teamed up with some Colombians to set up Proforce in 2008. That was actually how we started the company. And the reason we founded the company, like I said, was due to the high level of insecurity in the country and all over the world. Nigeria is not isolated on this, because when you look at it, the same thing is happening in many countries across the world.

What exactly do you produce in your Ode Remo plant, and can the quality standard be compared with similar products elsewhere in the world?
We make a lot of tactical vehicles, cash-in-transit vans; infantry combat vehicles, armoured patrol boats, Unmanned Arial Vehicles (UAV’s) and architectural armouring. We are now putting together a prototype military tank. Majority of these vehicles are second to none when you look at the quality. We have brought in expatriates that have a combined 70 years experience in armoring, and these are people who were the top guys where they were working before. They have transferred the technology to Nigerians who are coming up seriously fast. In fact, we have a couple armoured personnel carriers (APCs) that the Nigerian team put together and when you look at the quality of the finish, you can match it in quality with the APC’s the expatriate team made.[/b]

raker300:
afonja lamentations

raker300:
my guy, you just entertained the crap out of us over here!!!!

Afonja entrepreneur is a t-shirt writer!!!

Something we did in secondary school as fun and jokes!!!

Afonjas!!! Why?

raker300:
Afonjas that live in this type of place below I expect this of.

This nah afonjas enclave in 2017...yet they're the richest in nigeria

raker300:
Afonjas listed writing on a t shirt as a company!!!

Success in Afonja land is writing on t shirt they bought from igbos..

Chai!!!

uglyafonja:
Innoson motors of different model

Innoson plastics

innoson tube and tyre

innoson fighter jet maintenance and spare parts manufacturing

Innoson ICT

Are they the same