Daar Communications posts first profit in nine years

Daar Communications Plc recorded a bounceback to profitability for the financial year 2021, its unaudited earnings report issued on Friday showed, having last reported a positive bottom-line in 2012.

The Abuja-based broadcast company, which had been stacking up losses on account of spiralling operational costs, said revenue for last year accelerated 35 per cent to N4.8 billion from N3.6 billion.

Television income contributed 91 per cent of turnover, while radio provided the rest. No income came from pay TV, according to the financials seen by PREMIUM TIMES.

Daar Communications share has not risen for once since it plunged into prolonged loss starting from the end of 2012, when it was priced at N0.50 per unit. It fell to, and remained at, N0.20 since April 12, 2021, the lowest level any stock is permitted to drop to by Nigeria’s stock market law.

Both pre-tax and post-tax profit stood at N374.4 million, a departure from a loss position of -N599.6 million reported for 2020. That marked a 162.4 per cent improvement over the previous year’s figure.

Earnings per share climbed to N0.05 up from –N0.07.

Total assets rose marginally by 0.2 per cent from N14.9 billion to N15 billion.

Read original article on premium times

Comments

TOP 10 RADIO STATION OWNERS IN NIGERIA

By Olamilekan Opaleye 1. Raymond Dokpesi - is a well known media magnate and politician, the chairman of Daar Communication Limited that owns the largest private radio network in Nigeria which consists of AIT- Africa Independent Television, Raypower FM Nigeria and Faaji FM Based on our findings, he has over 22 radio stations across Nigeria. 2. Tajudeen Adepetu- is a media tycoon and Chairman of Group8 Limited,one of the largest media conglomerate in Africa, formerly known as Consolidated Media Associates and Alphavision Productions, the parent company of soundcity Radio [Nigeria, South Africa, Kenya, Ghana, Tanzania and Uganda]; Correct FM [Lagos, Ibadan, Kaduna, Calabar & Enugu]; Urban96 Radio[Lagos, Enugu & Abuja] He's also the owner of Soundcity TV, Correct TV, My Spice TV, Trybe TV, Access 24, OnTV, OnMax, Televista, Village Square TV, Life Africa TV, Xchange TV and Ummah TV. All these stations are headquartered at 5 Ayo Jagun Street, Lekki phase 1, Lagos State. Accor...

LIST OF RADIO STATIONS IN IBADAN, OYO STATE

87.7 – Omoluabi FM, Ibadan 87.8 - Kasmon FM, Iseyin 88.1 - Gravity FM, Igboho 88.3 – Asabari FM, Radio Nigeria, Saki (Not yet On Air ) 88.5 – Ajayi Crowther University FM, Oyo Town - IITA Radio, Ibadan 88.7 - Agidigbo FM, Ibadan 89.1 – Lead City University Campus Radio FM, Ibadan 89.1 - Seap FM, Okeho 89.3 - Ogo Ilu FM (FRCN), Oko, Ogbomoso. - Wells Radio FM, Ibadan 89.7 - Prince FM, Ibadan 89.9 - Dynasty FM, Oyo Town 90.1 - Space FM, Ibadan 91.1 - Crest FM, Ibadan - Brave FM, Ogbomoso 91.5 – Star FM, Ibadan 91.9 - Ilaji FM, Ibadan (Not yet On Air) 92.1 – Ajilete FM, Ogbomoso 92.5 – Impact Business Radio FM, Ibadan 92.9 – Royal Root FM, Ibadan 93.5 – Premier FM (FRCN), Ibadan 93.7 - Vintage FM, Ibadan 93.9 - Solutions FM, Ibadan 94.3 - Almond FM, Ibadan 94.9 - 32fm, Ibadan 95.1 – Raypower FM, Ibadan 95.5 - JFM, Saki. 95.7 - Soul FM Ibadan 96....

Ayefele establishes Another Radio Station, Blast FM In Ibadan

One of the Top 10 Radio station Owners in Nigeria, also the Chairman of Fresh FM Nigeria (Yinka Ayefele Limited), Dr. Joel Yinka Ayefele has added another feather to his cap by floating a new FM station in Ibadan, named Blast FM Ibadan. RadioReporterNG gathered that the station, Blast FM Ibadan will operate as an urban comtempory station but the frequency Modulation of the station is yet to be disclosed. Ayefele Radio Stations now include but not limited to Fresh FM 105.9 Ibadan, Fresh FM 107.9 Abeokuta, Fresh FM 104.9 Osogbo, Fresh FM Ado-ekiti, Fresh FM 102.9 Akure, Fresh FM 105.3 Lagos and Blast FM Ibadan. Congratulations to the Iconic Radiopreneur!

Radio Reporter NG

Search This Blog