Managing Director and Group Chief Executive Officer of the company, Sola Obabori, at the company’s facts behind the figures on the floor of Nigerian Stock Exchange (NSE) in Lagos diclosed that the new capital will be deployed into four major areas, which include technological advancement, investments in new ventures, expansion of existing businesses’ and increase coverage and visibility of their business.
According to him, they are going to automate their processes, unlock long term value through strategic investments in new ventures and explore new growth opportunities in pharmaceutical logistics, agro trade, tech services, prints and packaging.
Making a projection on the company’s five-year strategic plan, he said the company, through its strategic investment would record N14.7 billion in its revenue base as againts the present N7.3 billion in 2017.
Giving an over-view of the the company’s financial performance in 2017, Obabori said revenue grew by 10 per cent from N6.6 billion in full year 2016 to N7.2 billion in full year 2017 as a result of its consistent increase in revenue drive, through increase in customer base, innovation and investment in assets.
Gross profit rose by 12 per cent from N1.9 billion in full year 2016 to N2.1 billion in full year 2017. The company’s profit after tax margin increased year on year from 5.0 percent in full year 2016 to 5.8 per cent in full year 2017. While profit before tax increased year-on-year from 8.6 per cent in full year 2016 to 8.9 in full year 2017.
Obabori attributed the consistent growth in the company’s efficient cost management approach in the full year 2017 and stable board and vibrant management.
and then