Ben Langat
Despite challenges in its operations within the 2017 monetary 12 months, FrieslandCampina WAMCO Nigeria Plc has said that the dairy merchandise producer stays resilient and continues to strategize to enhance traders’ returns.
Speaking on the firm’s 45th yearly common assembly, yesterday in Lagos, the Managing Director, Ben Langat defined that although 2017 was a difficult enterprise 12 months, the corporate confirmed resilience and dedication to fulfill its targets and thrive amidst a troublesome working surroundings.
During the 12 months beneath overview, the corporate recorded a 13.2 % improve in turnover from N123.75billion in 2016 to N140.08billion in 2017. Profit earlier than tax (PBT) nevertheless decreased by 20.6 % from N19.96billion to N15.86billion as a results of the fire incident that occurred within the evaporated milk manufacturing unit.
In spite of the financial headwinds, the corporate elevated funding to enhance operational effectivity by procuring two new sterilizers, a conveyor, two excessive velocity sachet filling machines with improved know-how and a mud extractor system to optimize security within the Powder Plant.
To this finish, the Shareholders have accredited a last dividend of N7.02 per unusual share of N0.50 every (having paid an interim dividend of N2.20 per N0.50 in October 2017) bringing the whole dividend paid out to N9.22 per N0.50 share within the 12 months beneath overview.
Regarding the corporate’s 2018 outlook, Langat defined that overseas change constraints, excessive inflation price and low client buying energy are more likely to be a few of the challenges this 12 months.
He stated, “We expect consumers to maintain their current spending behaviour of top-up neighbourhood shopping, particularly for milk. Availability and affordability will remain major determining factors in purchase decision making.”
“FrieslandCampina WAMCO will continue to work within best global practices, leverage opportunities to invest and continue to satisfy our consumers as we maintain our leadership position in the dairy sector”.
The firm additionally made some investments in its Dairy Development Programme to extend alternatives in native dairy farming.
The firm invested in an extra milk assortment centre, and began the Farmer2Farmer programme to assist enhance milk high quality, quantity and dairy farming expertise by means of one-on-one teaching by Dutch co-operative member-farmers from Royal FrieslandCampina, The Netherlands.