Livestock Feeds post 21% increase in profits, propose dividends

Livestock Feeds released its 2014 FY results showing revenues rose 29% to N7.9billion (2013: N6.1billion). The company also reported a pre-tax profit of N402milllion a 42% jump from the N282.7million posted a year earlier.

Profit after tax rose 21% to N254million (2013: N210.7million). Despite the increase in top and bottom line, earnings per share dropped 28% to 12.71kobo following the increase in shareholdings in 2014 compared to 2013. The company’s outstanding shares increased from 1.2billion ordinary shares in 2013 to 2 billion ordinary shares in 2014.

The Company received the sum of N904 million being special placement proceeds from UACN Plc of Nigeria on 8th February 2013 and as a result, there was an increase in share capital from N600 million to N1 billion while a total sum of N18.326 million was incurred as issuing cost as at 31 December 2013 and defrayed against the share premium of N504million:

They proposed a dividend per share of 10kobo. The share price closed at N2.02 yesterday.