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

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.