Dangote Flour records 86% growth in year 2009 PAT


-offers investors 50 Kobo dividend

By Peter OBIORA investadvocate

Sept 13, 2010 22:30 GMT



Lagos–Dangote Flour Mill Plc (Dangflour) has recorded an 86 percent (86%) growth in Profit After Tax (PAT) of the company in its year 2009 Financial Year End (FYE).



This was contained in the company’s Audited Year Ended (December) 2009 released Monday September 13 2010 on the Flour of the Nation’s Stock Exchange in Lagos Nigeria.



To achieve this feat, Dangflour recorded a PAT of N5.561 billion in year 2009 compared to N2.989 billion in year 2008; indicating an increase of 86% in the review period.



Profit Before Tax (PBT) also increased from N3.167 billion in year 2008 to N5.374 billion in year 2009 showing an increase of 70 percent (70%).



While Turnover also grew from N47.927 billion in year 2008 to N61.388 billion in year 2009 showing a growth of 28 percent (28%) in the review period.



Closure date is September 20 to 27 2010 and payment date has been fixed for October 25 2010 after the company’s Annual General Meeting (AGM) scheduled for October 06 2010 in Kano Nigeria.



Meanwhile, Oceanic Bank International Plc (Oceanic) has announced a change in its Board. The Bank Monday September 13 2010 notified The Exchange that Mr. Abimbola Naiwo, a non-Executive Director has resigned his appointment from the Board of Directors (BOD) on May 07 2010.






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