Seplat Petroleum Development Company plc reported a decline in half-year (H1) revenue for the period ended June 30, 2015, the results released yesterday at the Nigerian Stock Exchange (NSE) showed.

Its group revenue dropped to $247.586million as against $388.185million in the corresponding half-year 2014.

 The group’s finance charges rose to $40.239million as against $21.643million in H1’14.

The group’s general and administration expenses declined to $50.738million from $83.426million; Gain on foreign exchange stood at $13.363million from $9.706million in H1’14.

Seplat is an independent indigenous Nigerian upstream exploration and production company with a focus on Nigeria.

The group’s profit before taxation declined to $41.261million from a high of $155.968million in H1’14; while profit after taxation for the H1’15 period stood at $41.476million from $155.968million.

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