ABC Trans­port records N6.7bn rev­enue, pro­poses N196 m div­i­dend

Daily Trust - - BUSINESSS - From Kay­ode Ogun­wale, La­gos.

ABC Trans­port Plc, yes­ter­day, an­nounced N6.656 bil­lion rev­enue for the group con­sol­i­dated and sep­a­rate state­ments of profit or loss for the year ended De­cem­ber 31, 2013.

The group in­creased its rev­enue by N127 mil­lion from N6.529 bil­lion recorded in the same pe­riod of 2012 to close at N6.656 bil­lion at the end of 2013 fi­nan­cial year.

In the same vein, the com­pany’S rev­enue rose from N6.505 bil­lion to close at N6.637 bil­lion, rep­re­sent­ing N132 bil­lion or 2.03 per cent.

ABC Trans­port, how­ever, pro­posed N195.910 mil­lion div­i­dends for its share­hold­ers. Al­though the div­i­dend de­clared by the com­pany’s board of di­rec­tors will be paid af­ter en­dorse­ment by its share­hold­ers.

Ac­cord­ing to the firm in a no­tice to the Nige­rian Stock Ex­change (NSE) in La­gos, the group profit be­fore tax de­cline from N531.8 mil­lion in 2012 to close at N521.3 mil­lion at the end of 2013, while the com­pany’s be­fore tax profit slightly in­creased by 0.49 per cent or N2.8 mil­lion to end 2013 with N568.8 mil­lion from N566 mil­lion.

How­ever, the group profit af­ter tax stood at N305.1 mil­lion in 2013 from N325.5 mil­lion in 2012, rep­re­sent­ing N20.40 mil­lion drop.

The group earn­ings per share de­clined by 2 kobo from 22 kobo of 2012 to close at 20 kobo at the end of 2013 fi­nan­cial year, while the com­pany earn­ings per share also close at 24 kobo.

Look­ing at the bot­tom line of its busi­ness, the group to­tal as­sets in­creased by N629 mil­lion in 2013 to end 2013 with N5.632 bil­lion, while com­pany’s to­tal as­sets rose by N712 mil­lion from N5.7003 bil­lion it recorded in 2012 to close at N5.715 bil­lion at the end of 2013 fi­nan­cial year.

Mean­while, ABC Trans­port share price stood at N0.90 kobo at the end of yes­ter­day’s trad­ing.

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