Market Date: 27-05-2015

Livestock feeds shareholders funds declines

Livestock feeds shareholders funds declines

march 06, 2008 01:00:39

 

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<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB>Shareholders funds of Livestock Feeds Plc have declined slightly by 2.45 percent in the 2007 financial year end. This was contained in a financial document made available to Proshare N/I.</SPAN></P>

 

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<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB>In the period under review, the shareholders funds of the company dropped from N343 million in 2006 to N335 million in 2007 indicating a 2.45 percent decrease.</SPAN></P>

 

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<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB>While the turnover of the company rose slightly in the period under review. In 2007 the turnover of Livestock Feeds was N581.7 million compared to N560 million it recorded in 2006; representing a four percent rise.</SPAN></P>

 

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<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB>Profit before Tax (PBT) also declined significantly from N728 million in 2006 to N8.840 million in 2007 indicating a decline of 900 percent. Profit after Tax (PAT) of the company also dropped from N748 million in 2006 to N8.324 million in 2007 representing a decline of 998 percent.</SPAN></P>
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<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB>As at the time of filling in this report, without prejudice Proshare N/I could not get top officials of the company to comment on the recent financials results of Livestock Feeds or to confirm if they would visit the market to raise fresh funds as members of the Nigerian investing publics are saying.</SPAN></P>


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