Daar Communications Plc has reported a loss before tax of N3bn for 2016 full year to the Nigerian Stock Exchange (NSE) on Tuesday.
This is against the N1.48bn loss before tax posted in the same time frame in 2016. It also contrasts a revenue of N3.73bn compared to N7.09bn in 2016, showing over 50% drop.
DAAR Communications Plc. was formerly an independent privately owned broadcasting organization founded by PDP stalwart, Raymond Dokpesi in 1998. It was converted into a public liability company in 2007. It pioneered Africa Independent Television (AIT), Ray power 100.5 FM Abuja, Raypower 100.5 FM and Faaji FM, a radio station that broadcasts in the local language.
The stations have been dogged with lawsuits as a fall-out of the 2015 General Elections campaign, with memebers of the formemr oppositon party (now ruling party) filing suits against the company for defamatory broadcasts, including the controversial ‘Lion of Bourdillion’. AIT has since apologised for showing the documentary.
Dokpesi has recently been more active in the politics and operations of his party, contesting but missing out on becoming th Chairman of the People’s Democratic Party.
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