Foremost business analyst Obi Ugo Chukwu of Nairametrics is reporting that Golden goose Dangote flour mills has reported slump in profit of a whooping 75% ..This is further Proof that nobody can win under such bad leadership ..I know this will never make front page but least it's a revelation to how poor the Nigerian economy has become under Buhari ..

Remember under Jonathan Dangote was consistently adjudged the fastest riser on the Forbes list with Projection putting him in top by 2018 but today under Buhari he is the fastest dropper and is now scraping the bottom of the list ..

Nobody can win under Buhari not even Dangote

We must Vote wisely and guard or votes because this time our destinies are tied to the votes

This is exactly what Apc BMC agents are preaching. Since Buhari is poor not productive, they want everybody to be like him.

Poor and desolate like most of their supporters

But APC would have us believe that out economy is the best thing Buhari has done for us

75% drop in profits must be a deliberate exaggeration or an error by the poster because even from the figures he used,the decline is more like 7.5%.
No biz can take a 75% profit plunge without closing some branches and laying off workers.
Sane minds don't also need figures from the big industry players to know that Buhari has ever be a disaster for any economy he presides over,in 1984 and 2015 to the present.It was common knowledge.
But what their propaganda cum lying machine told us he had competences in,fight against corruption and security,he has also turned out to be monumental failures in.
Add in the bonus he has given us in his crass incompetence and failings:first rate cronyism,bigotry and parochialism and you have by miles,the worst president this country has ever had.

The Country Is Headed For The Slum Anyway

They made a profit and not a loss so what's the issue?

doctokwus:
75% drop in profits must be a deliberate exaggeration or an error by the poster because even from the figures he used,the decline is more like 7.5%.
No biz can take a 75% profit plunge without closing some branches and laying off workers.
Sane minds don't also need figures from the big industry players to know that Buhari has ever be a disaster for any economy he presides over,in 1984 and 2015 to the present.It was common knowledge.
But what their propaganda cum lying machine told us he had competences in,fight against corruption and security,he has also turned out to be monumental failures in.
Add in the bonus he has given us in his crass incompetence and failings:first rate cronyism,bigotry and parochialism and you have by miles,the worst president this country has ever had.

bros, believe the figures are possible.
beht make pesin research to confam.
we exited recession on paper and on GDP basis.
even banks made huge profits in the recession. does dangote own part of any bank? just curious.

but it's people who must buy flour based products for him to profit.
when millions lose their jobs, when businesses shut down, this is the result.

if memory serves, in 2016 they suffered a similarly serious loss.
Target, SA owners of the flour mills insisted dangote step down as chairman and threatened to remove his name from as brand cover.
I think his daughter replaced him on the board- as Ceo, I think.
but if this is in addition to the previous losses, then they should really consider pulling out of Nigeria.

anyway, this is small potatoes.
the 'poor' man lost over $4 billion from his net worth.
if he was into politics he'd be fighting, tooth and claw, to remove buhari.
hey, who knows. maybe he's doing just that.
in the shadows…

I don confam!

d op was right o!!

pls who has any gist on the reasons for this?!

this is a terrifying prospect o!

mods, pls FP na, na, na!!

lalasticlala, mynd44, SEUN, naijacutee , FOD , dominique , puskin

Profit before tax
The profit before tax for the company dropped from N18.01 billion in Q3 2017 to N4.45 billion in the same period 2018. This represents a 75.29% drop year-on-year.

Profit After Tax
Profit After Tax also dropped from 13.05 billion in Q3 2017 to 3.26 billion in the same period 2018. This represents a 75.01% drop year-on-year.

Earnings Per Share
Earnings Per Share dropped to N0.65 in Q3 2018 from 2.61 in the same period in 2017. This represents a 75.1% drop year-on-year.

https://nairametrics.com/dangote-flour-mills-revenue-plummeted-by-16-93-in-q3-2018/

doctokwus:
75% drop in profits must be a deliberate exaggeration or an error by the poster because even from the figures he used,the decline is more like 7.5%.
No biz can take a 75% profit plunge without closing some branches and laying off workers.
Sane minds don't also need figures from the big industry players to know that Buhari has ever be a disaster for any economy he presides over,in 1984 and 2015 to the present.It was common knowledge.
But what their propaganda cum lying machine told us he had competences in,fight against corruption and security,he has also turned out to be monumental failures in.
Add in the bonus he has given us in his crass incompetence and failings:first rate cronyism,bigotry and parochialism and you have by miles,the worst president this country has ever had.

Oga Revenue is different from profits Revenue is Total Income generated which still includes expenses salaries etc