By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Afromedia Plc’s Profit After Tax (PAT) slipped by 168.4 percent (168.4%) in its Audited Report for the period ended September 30 2011.

To record the slip in Profit, the Company recorded a negative PAT of N301.181 million in year 2011 Financial Year End (FYE) compared to N440.129 million in year 2010.

Profit Before Tax (PBT) also dropped from N619.971 million in year 2010 to a negative N409.845 million indicating a drop of 166.1% in the review period.

Turnover also decreased from N3.733 billion in year 2010 end compared to N3.240 million in year 2011 end representing a decrease of 13.2%.

However, despite these drop in profit, the Company has proposed to reward its shareholders with 0.025 Kobo dividend payment for the 2011 FYE and a bonus of 1 for 20.

Afromedia in the Result Announcement Tuesday to the Nigerian Stock Exchange (NSE) said closure date of shareholders whose names appear on the Company’s Register is Friday April 20 to Thursday April 26 2012.

The Firm also said its payment date has been scheduled for Friday August 24 2012.