Managing Director, Chemical & Allied Products (CAP) Plc., Omolara Elemide; Chairman, Nigerian Institute of Quantity Surveyors (NIQS), Lagos State Chapter, Dele Mafimidiwo, General Secretary, Real Estate Developers Association of Nigeria (REDAN) Kunle Adeyemi and Marketing Manager, Chemical & Allied Products (CAP)Plc., Dominic Oladeji at Dulux Colour of the Year Professional Groups briefing held in Lagos lately
Firm’s shareholders approve N1.435 billion dividend
Chemical and Allied Products (CAP) Plc has assured shareholders that the corporate was properly positioned to reply appropriately to the emerging market traits and different financial situation.
As said by the corporate, the foremost focus for the present monetary 12 months is to develop its market share, rising product and repair providing, increasing commerce channels, implement aggressive advertising methods and enhance human capital improvement.
Besides, the shareholders of the corporate endorse the agency’s N1.435 billion dividends, which translate to N2.05 dividend per share for the 2017 monetary 12 months.Addressing shareholders throughout the 53rd yearly common assembly of the corporate held in Lagos lately, the Chairman of the corporate, Larry Ettah stated the agency was poised to make the most of different structural reforms of federal authorities in the housing and actual sector to develop the enterprise.
“The outlook for the Nigerian actual property market in 2018 will likely be largely depending on the general performance of the financial system. Your firm is carefully following developments in any respect ranges and is ready to key into opportunities that will likely be created.
“We are equally poised to take advantage of other structural reforms of federal government, which might the housing and real estate sector. The business will respond appropriately to the emerging paint market trends and different economic scenario,” he stated.
Ettah stated that regardless of the troublesome working setting in 2017, the corporate ended the 12 months with a respectable performance, saying that the enterprise recorded a gross sales turnover of N7.11 billion, representing a development of 4 per cent over the earlier 12 months, whereas the working revenue was N1.98 billion, a decline of seven per cent over 2016.
Ettah stated that the profitable commissioning of the corporate automated in-plant tinting manufacturing unit was an achievement in 2017, saying that the manufacturing unit will guarantee emulsion paints are promptly and available to clients.
The chairman additional stated that the corporate retained its ISO 9001:2008 and achieved re-certification of ISO 14001:2004 on Quality and Environment Management methods, respectively. “We will not stop to offer high quality products and services to customers, while complying with regulatory requirements and conduct our operations on a healthy and safe manner, ensuring minimal impact on the environment,” he additionally stated.