society
FrieslandCampina WAMCO beats the odds, announces 35% revenue increase
FrieslandCampina WAMCO beats the odds, announces 35% revenue increase
Dairy leader and maker of Peak, Three Crowns, Coast, Olympic and Nunu brands of milk FrieslandCampina WAMCO Nigeria PLC has announced 35% revenue growth and 1-for-1 bonus at its 49th Annual General Meeting held recently at the Sheraton Hotel, Ikeja, Lagos.
*Operating Results and Performance:*
The Company achieved strong volume and value growth compared with the previous year despite the difficult operating environment characterised by increased competition and influx of substitute propositions. As a result, Turnover increased by 35% from N199.5 billion in 2020 to N268.4 billion in 2021. Operating Profit increased by 13% from N19.4 Billion in 2020 to N22 Billion in 2021. High Finance costs due to Naira devaluation led to a decline in Profit Before Tax (PBT) by 15% from N14.9 billion in 2020 to N12.7 billion in 2021.
Ben Langat, Managing Director FrieslandCampina WAMCO Nigeria PLC and Sub-Sahara Africa Cluster, explained: “In the year under review, we made excellent progress in strengthening our business strategies. We scaled up investments in brands and optimized physical availability. The combination of solid brands, operational excellence and expanded route-to-market (RTM) distribution strategy sustained our leadership position and delivered significant top-line growth. Likewise, our sustainable Dairy Development received a boost through significant initiatives including collaboration on the Value4Dairy Consortium, investment in a new mobile yoghurt factory to scale up fresh milk processing, expansion to new states; all modelled towards delivering and accelerating backward integration of the dairy sector in Nigeria.”
In accordance with the company’s dividend policy, the Board of Directors proposed a total dividend of N5.83 per N0.50 ordinary share. An interim dividend of N1.10 was paid in 2021, and a final cash dividend of N4.23per N0.50 share was approved by the shareholders at the Annual General Meeting plus a bonus share to be issued to existing shareholders on a one-for-one basis i.e., one ordinary share with a nominal value of N0.50 for each share owned.
According to Mr. Moyo Ajekigbe, OFR, Chairman, Board of Directors, “Our achievements in 2021 were the result of concerted efforts by various stakeholders, and I would like to express my appreciation to them for their valued contributions. The Board recognises the formidable leadership, resilience and professionalism of the Management Team, which delivered the strong performance recorded in 2021; and our greatly valued employees at all levels for their hard work, dedication and continued commitment. Despite the severe headwinds in our business environment, our Company was able to sustainably grow the business across the board.”
*2022 Company Outlook*
The country’s GDP is expected to grow by 3-4%; however, the outlook remains clouded by uncertainty surrounding oil price trajectory, scarcity of FX, rising inflation, high unemployment, security challenges and social tensions across the country. Both the supply and demand sides of our business would be under immense pressure. The expected volatility and uncertainty in the business environment not withstanding, the Board and Management remain confident about the future of the Company and are committed to its success and sustainability. We are confident that the Company’s brands, which are leaders in the dairy sector, will continue to leverage our optimised route-to-market. We will continue to aggressively pursue our backward integration and product diversification strategies with vigour to ensure the long-term sustainability of our business.
society
Warmest Birthday Wishes to an Exceptional, Gracious Woman, Mrs Folake Fabiyi ~Oluwaseun Fabiyi
Warmest Birthday Wishes to an Exceptional, Gracious Woman, Mrs Folake Fabiyi
~Oluwaseun Fabiyi
On this momentous occasion, I am thrilled to honor my beloved sister, Falake, a paragon of kindness and industriousness, on her birthday, today, Friday ayaba Fabiyi Supo, 15th November 2024. Ma, the divine benevolence of God Almighty has bestowed upon you another year of life, replete with promise and opportunity.
It is also an opportune moment to reflect on your blessings and methodically enumerate them, thereby acknowledging the remarkable accomplishments of God in your life
As you commemorate another year of existence today, may the Supreme Being graciously continue to endow your life with success, benevolence, and unwavering favour, and henceforth, every utterance and account regarding you and your household shall be replete with good tidings
I fervently pray that God’s divine guidance and favor will continually be upon you, and may He graciously bestow His kindness upon you now and forever. Please accept my warmest congratulations and sincere best wishes
To my dearest Mummy Precious, I offer my warmest felicitations and hope your birthday celebration is exceptionally eventful.
Oluwaseun Fabiyi a seasoned Journalist writes from Lagos
society
The Limit Breaker Sierre Leone Day 2- Spirit Brings Liberty When You Obey Instructions – Dr Chris Okafor.
The Limit Breaker Sierre Leone Day 2- Spirit Brings Liberty When You Obey Instructions – Dr Chris Okafor.
…. Obedience is the Solution to Limitations
If somebody can start it, somebody can end it, obeying instructions can change any evil patterns in the life of people, pattern of sickness, Poverty, Late marriage and what have you, when you obey instructions you will breakout of the Limitations in your father’s house.
This was the case study at the day 2 of the ongoing The Limit Breaker Conference in Freetown Sierre Leone where over 2 million faithful received Prophetic Blessings from the servant of God, The Generational Prophet of God.
Teaching on the Topic, Breaking out from the Limitations of my Father’s House Part 2, The Convener Chris Okafor world outreach Ministry COWOM and Senior Pastor Grace Nation Global Dr Chris Okafor continue on the highlights said when you obey instructions, you are prone to be free from any bondage of your father’s house.
The Generational Prophet of God also remarked that , it is not that the devil is powerful but because of the lack of Knowledge of the People, he said ignorance is a licence to bondage therefore obedience is majorly the solution to ancestral Limitations, when you obey instructions the spirit that brings liberty locate you and you will be free from bondage and every spirit of Limitations from you father’s house, you will be free from it.
It was another Powerful and Prophetic movement of God at the Conference, God uses his servant the Generational Prophet of God Dr Chris Okafor to do what he knows how to do best, Addressing Various issues, calling Names, Names of villages, while Every evil altars holding people inheritance exposed, Profiling solution to every case file brought to the conference, it was indeed a life changing Prophetic encounter in the life of the good people of Sierre Leone, the testimonies that will come after the three days prophetic encounter will be enormous and according to a participant who will not want her name mention.
The conference continues on Friday 15th November 2024 ,Same Time and Venue
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