D A A R
COMMUNICATIONS Plc
has recorded a profit after tax
loss of N 3.4 billion, the result
of the Company’s 2013 and 2014
operating years has shown.
The development and the
settlement of the company’s
contingent liabilities impaired
profit taking and dividends for
shareholders of the group.
Addressing shareholders at the
joint Annual General Meetings
(AGM) for the two years in
Abuja, Chairman of the Daar
Communications Group, Chief
Raymond Dokpesi Jnr, said
though the company recorded a
33 per cent and 23 per cent growth
respectively for the two years
in question, tax commitment
and other contentious liabilities
eroded the gains of the growth.
He deplored the harsh
operating climate in the country
in the period under review,
pointing out that it had negative
impact on the company’s
revenue inflow as it hampered
clients’ patronage level.
Dokpesi said: “In the light of
the above operating challenges,
your company recorded modest
improvement in earnings in
2013 and 2014 of N5.6 billion
and N6.9 billion respectively.
These achievements translated
to earnings growth of 33 per
cent and 23 per cent respectively
over earnings recorded in their
preceding years.”
He continued, “Regrettably,
the company recorded loss
after taxation of N3.4 billion
in 2013. However, there was
improvement in operation in
2014 as the loss after taxation was
drastically reduced to N0.107
billion.”


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