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Tax credit masks Seplat’s weak operating performance

Seplat

Earnings after tax surged by 59.0 percent Year-on-year to $32.7 million, largely due to a $13.3 million tax credit that masked significant weakness in core operating performance in the review period.     Revenue contracted by 11.7percent Year-on-year to $159.5 million, dragged by a 16.5percent Year-on-year decline in oil revenue which concealed the impact of…

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