By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Dangote Flour Mills Plc (DANGFLOUR) Wednesday posted a N2.299 billion loss in its half year report for the period ended June 30 2013.
To record the loss, profit after tax (PAT) of the company went from a negative of N464.352 million in the half year period of 2012 to a negative N2.299 billion in the review period of 2013; indicating a loss in PAT of -595.1%.
Similarly, pretax profit also went from a negative of N479.051 million in the second quarter of 2012 to a negative of N3.773 billion in the same period of 2013; showing a loss of -403.7%.
However, gross earnings grew slightly to 1.0% from N28.891 billion in the second quarter of 2012 to N29.383 billion in the review period of 2013.
Earlier in this year, Dangote Flour a company owned by Aliko Dangote, president of council of the Nigerian Stock Exchange (NSE) and 156 other companies were reported to be performing Below Listing (BLS) according to the X-Compliance Report of the Nigeria’s Exchange.
According to the Nigeria’ Exchange, for Dangote Flour and the 156 other companies to be rated as BLS on the NSE’s X-Compliance Report, the Listed companies were identified as those that have not met the minimum listing standards in terms of timely disclosure of their Audited Annual Financial Performance and are thus operating Below the Listing Standards (BLS) of The Exchange.
