Daar communications posts NGN2 billion loss for 2016

Nigerian Enamelware

For the full year of 2016, Raymond Dokpesi’s Daar Communications Plc reported a net loss of NGN2.1 billion against NGN1.5 billion loss posted in the year 2015.

Total revenue for the year was NGN3.7 billion revenue compared to NGN7.0 billion recorded same period 2015. Its costs of sales for the period was NGN4.9 billion against NGN5.1 billion recorded in the year before.

The company said its gross profit fell to NGN 1.2 billion in the period in review from NGN1.9 billion recorded in the fiscal year 2015.  While its operating loss was NGN2.9 billion in contrast to NGN1.9 billion loss posted in the previous year.

The down part of its books looks red as it recorded NGN3.0 billion loss before tax expenses in 2016 compared to NGN1.4 billion loss recorded in 2014.

Daar Communications Plc said it acquired NGN18.1 billion total assets in the year in review in contrast to NGN19.3 billion recorded in 2015. Its total liabilities was NGN6.8 billion versus NGN5.9 billion recorded in the year 2015.

For more details on the report, click here>>>

DAAR Communications plc is an independent privately owned broadcasting organization in Nigeria. It was established on August 31, 1998 by Raymond Dokpesi and on April 23, 2007, it was converted into a public liability company. It pioneered Africa Independent Television (AIT), Ray power 100.5 FM Abuja and Raypower 100.5 FM. The company is listed on the Nigerian Stock Exchange.

Leave a Reply

Your email address will not be published.