The board of digital television service provider and owner of RayPower fm and African Independent Television, the nation’s premier private radio and television outfits, on Monday presented its audited results for the year December 31, 2015 to the Nigerian Stock Exchange, at a time it should be preparing the figures for 2016.
Highlight of the result was that shareholders still have to be more patient, concerning any hope of the company posting its first ever profit, from which it would propose a dividend for approval.
Daar Communications reported a very miserly 2% rise in revenue from N6.973 billion in 2014 to N7.089 billion; following which bottomline slumped by 345% from a profit before tax of N428.363 million in the previous year, to N1.047 billion loss.
Net Lose increased by 1,316% from N107.014 million to N1.515 billion, translating to loss per share of 19 kobo, which worsened from one kobo in the corresponding period of 2014.