The company said in a statement that it expects revenue of
N66.03bn in the third quarter with a gross profit margin of 17.22 per cent.
Total Nigeria put its expected profit before tax and profit
after tax at about N3.46bn and N2.34bn respectively.
Investopedia defines free cash flow as the cash a company
produces through its operations after subtracting an outlays for cash for
investment in fixed assets like property, plant and equipment.
In a business with significant costs expended within its
value chain, Total Nigeria estimates that cash paid to suppliers and employees
between July and September would gulp N45.66bn from its N66.03bn projected
revenue.
The company said it would spend about N1.2bn on the purchase
of fixed assets.
After accounting for changes in cash flows from financing,
investing and operating activities, Total sees its cash and cash equivalents
closing at N10.28bn by September 31.
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