Daar Communications Ltd, owners of AIT, released its 2015 Full Year results on Monday January 23rd 2017 showing revenues grew 1.4% to N7 billion (2014: N6.9 billion). The media company also reported a loss after tax of about N1.5 billion compared to a loss after tax N107 million. Here are highlights of this results;
- Revenue for the year was N7 billion compared to N6.9 billion in 2016
- The modest growth in revenue was surprising considering that 2015 was an election year which should suggests higher advertising revenue for the company
- However, our analysts opine that the election was basically over in the first quarter of the year.
- Revenue lines were broken into Television, N6.2 billion (2014: N6.4 billion), Radio was N668 million (2014: N686 million), DAAR News N169 million (2014: N0), UK operations N47 million (2014: N42 million.)
- Each of its segment posted a positive gross profit. Gross profit margin was 32% for the Television segment.
- The company also reported that it had about 1,125 employees down from 1,211 in 2014.
- The company also claims to have a contingent liability of about N7 billion, mostly made up of litigation against the company for that year.
Download the results below;
