ABC Transport Post 6% Drop in PAT..See Details

Deprecated: mb_convert_encoding(): Handling HTML entities via mbstring is deprecated; use htmlspecialchars, htmlentities, or mb_encode_numericentity/mb_decode_numericentity instead in /var/www/nairametrics/wp-content/themes/nairametrics/functions.php on line 104

ABC Transport Plc released its 2014 Audited results showing a 6.3% drop in profit after tax to N305million (2012: N326million). Highlights of the results are as follows;

• Revenue grew 2% to N6.6billion (2012: N6.5billion)
• Gross profit dropped 7.4% to N1.6billion (2012: N1.7billion)
• Operating profit for the year was N264million a 59% drop from the N651million posted in 2012.
• Profit before tax was N521million compared to N532million posted in 2012.
• Pre-tax profits was boosted by 270% increase in other gains and losses. They posted N387.8million (2012:N104.7million)
• Profit after tax was N305million (2012:N326million)
• Return on equity was 13.6% (2012: 15.6%)

ABC Transport first released its results in the website of the NSE