ABC Transport plc 2013 turnover increases by 2.03 percent

Associated Bus Company otherwise referred to as ABC Transport Plc, the only transport company quoted on the Nigeria Stock Exchange (NSE) has released its audited results for the year ended December 31, 2013, recording a growth of 2.03 percent in turnover over the 2012 result.

Turnover increased from N6.5b in 2012 to N6.64b in 2013, representing an increase of 2.03 percent while Gross profit declined slightly by 7.24 percent from N1.77b recorded in 2012 to N1.64b in 2013. Profit before tax, however, grew by 0.49 percent from N566.01m in 2012 to N568.80m in 2013, while profit after tax declined by 2.15 percent from N362.89 m in 2012 to N355.08 m in 2013.

During the forthcoming annual general meeting,  the Directors shall propose at the forthcoming a dividend of 6 kobo per ordinary share of 50 kobo each for the year ended December 31, 2013.

Accordingly, the Register of Members and Transfer Books of the company will be closed on August 11, 2014 to August 15, 2014, both dates inclusive, for the purpose of determining those entitled to the payment of dividend.

Consequently, if the dividend as proposed is approved, dividend warrants will be posted on 12 September 2014 to all shareholders whose names appear in the Register of members at the close of business on August 8, 2014.

The Directors shall equally recommend a bonus share for members in the proportion of one (1) new share of 50 kobo for every ten (10) shares held at the close of business on August 8, 2014.

All this will be considered for approval at the 21st AGM scheduled to hold at the Mayfair Suites and Conference Centre, Plot 40, Egbu Road, Owerri on Friday,  August  29, 2014 by 11a.m. at which shareholders will consider the proposed dividend, among other business.