DAAR Communications Plc, owners of AIT and Raypower FM have denied earlier report making the rounds that it might go into extinction within the next two years if more fund is not injected into the Media giant by shareholders urgently.
Reacting to the report which was published in some Dailies and social media platforms including CKN News today, the GM Corporate Communications of Daar Communications Plc,Mr Johnson Onime who spoke to CKN News exclusively said that the Chairman of the Company ,Mr Raymond Dokpesi Jnr was misquoted.
He stated that the Chairman’s statement was taken out of context. According to him,Daar Communications is on sound footing. Onime said the company has over the years built a solid foundation as a major force in broadcasting not only in Nigeria but in the African continent. He opined that Nigerians have nothing to fear.
Daar Communications has posted an operating loss of N2.139 billion in 2016, up from N1.515bn in 2015.
The chairman of the company, Chief Raymond Dokpesi Jnr, had stated this at the combined 2015 and 2016 annual general meeting of the company held in Abuja. He attributed the loss to the recession Nigeria is currently struggling to come out of.
According to him, “The adverse business environment together with the biting economic recession caused the 2016 turnover of the company to plummet to an all time low if N3.733 billion representing 47 per cent decline over 2015 earnings.”
“The loss after taxation in 2016 was N2.139 while in 2015 loss after taxation was N1.515 billion.