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FrieslandCampina WAMCO beats the odds, announces 35% revenue increase

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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.

 

FrieslandCampina WAMCO beats the odds, announces 35% revenue increase

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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Group Urges Yorubas To Shun Protest Against Tinubu

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Group Urges Yorubas To Shun Protest Against Tinubu

 

Group Urges Yorubas To Shun Protest Against Tinubu

 

The Igbimo Asoju Yoruba, a prominent socio-cultural organization, is urging Yorubas to refrain from participating in protests against the President of the Federal Republic of Nigeria, Asiwaju Bola Ahmed Tinubu.

 

 

Group Urges Yorubas To Shun Protest Against Tinubu

In the midst of economic hardship, the organization is calling for unity and calm within the Yoruba community, emphasizing that stability and order will be restored soon.

In a statement signed by the convener of this group, Chief George Olufemi Ogunjimi said in these challenging times, it is crucial for us to come together as a people and focus on finding solutions to the economic challenges facing our community. The Igbimo Asoju Yoruba believes that with collective effort and a spirit of solidarity, we will be able to overcome these difficulties and emerge stronger.

We urge all Yorubas to remain calm and exercise restraint, and to work towards peace and stability. Let us keep faith in the process and believe that things will be in order soon. We trust in the resilience and ingenuity of our people and are confident that together, we will be able to navigate through these tough times.

The Igbimo Asoju Yoruba is committed to promoting the interests and well-being of the Yoruba people, and we call on all Yorubas to join us in working towards a brighter future for our community.

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DHQ REFUTES ALLEGATION OF GUARDS BRIGADE PLACED ON HIGH ALERT OVER SUSPICION OF COUP PLOT IN NIGERIA

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Aare Kakanfo Reveals Why Nigerians Should Be Patient With Tinubu

*DHQ REFUTES ALLEGATION OF GUARDS BRIGADE PLACED ON HIGH ALERT OVER SUSPICION OF COUP PLOT IN NIGERIA

 

1.​The attention of the Defence Headquarters has been drawn to a malicious and unfounded article published online by the Saharareporters.com on 25 February 2024 claiming that the Guards Brigade has been put on high alert following unusual movements, leading to suspicion of a coup plot in Nigeria. The publication also asserted amongst other things that the suspicion prompted emergency meeting involving President Bola Tinubu, the Chief of Staff to the President and Commander of the Guards Brigade.

2.​The Defence Headquarters wishes to categorically state that the allegation is totally false. For the avoidance of doubt, the Guards Brigade has been statutorily assigned the responsibility of protecting the seat of power (The Presidency) and by extension the Federal Capital Territory and its environs. Hence, it is to be noted that the Guards Brigade has always been on high alert in order to effectively executive its assigned tasks.

3.​It will be recalled that the Chief of Defence Staff, General Christopher Musa OFR had in various fora reiterated the unalloyed commitment of members of the Armed Forces of Nigeria to the protection and sustenance of democracy in Nigeria. Therefore, the Defence Headquarters strongly condemn this unsubstantiated assertion which is just a figment of imagination of the publisher and enjoins members of the public to disregard it.

4.​Furthermore, the Defence Headquarters calls on relavant security agencies to immediately take appropriate action against the Sahara Reporters for this unpatriotic action. Meanwhile, the Defence Headquarters will seek legal redress on the issue which has the ulterior motive of creating unnecessary tension in the country.

5.​Kindly disseminate for the general public awareness.

Signed:
TUKUR GUSAU
Brigadier General
25 February2024 Acting Director Defence Information

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Former Gov Yahaya Bello’s legacy in infrastructure, health, others worth emulating, says Nigerian Guild of Editors

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Former Gov Yahaya Bello's legacy in infrastructure, health, others worth emulating, says Nigerian Guild of Editors

Former Gov Yahaya Bello’s legacy in infrastructure, health, others worth emulating, says Nigerian Guild of Editors

. Declares ‘Kogi State is working, editors highly impressed’

The Nigerian Guild of Editors has commended the Kogi State Government for what it described as a highly impressive performance in infrastructure, education and health.

 

 

 

The Guild gave the commendation during a tour of some of the projects initiated and completed under the administration of former Governor Yahaya Bello.

 

 

Former Gov Yahaya Bello's legacy in infrastructure, health, others worth emulating, says Nigerian Guild of Editors

 

 

The President of the Nigerian Guild of Editors, Eze Anaba, who briefed journalists at the end of the project tour, specifically said, from what he and other editors had seen, first-hand, the former governor had left a legacy worthy of emulation in critical sectors.

He, however, added that the current Governor of the state, Alhaji Usman Ododo, was doing well to consolidate on the good work of his predecessor.

The NGE was in Lokoja to hold its standing committee meeting. In all, about 40 editors, across the print, electronic and online media participated in the meeting. The editors used the opportunity to inspect some of the projects executed by the past administration in the state.

According to the NGE President, the Reference Hospital in Okene is one that can help the country in the area of medical tourism.

“Recently, the Governor of the Central Bank of Nigeria told the whole world that medical tourism alone was costing this country a fortune. So, if Nigerians patronise this hospital, it will save this country a lot of money and help put our economy in good shape. With what we have seen here, Nigerians should be happy for it,” he said.

He stated, “The immediate past administration has left a legacy worthy of emulation. I am appealing to the current administration to consolidate on the good work of the immediate past Governor of the state because he has done a lot in education, health and infrastructure development and such achievements should be sustained by the present administration.

“I and other members of the NGE have gone round projects executed by the Governor Yahaya Bello-led administration and I am saying this without mincing words that Kogi State is working and the current administration under Alhaji Ahmed Usman Ododo is doing well to sustain the legacies of his former boss.

“Democracy is about the people and the facilities we have seen, including the network of roads. If the road network is strong like we saw, I am sure Nigeria will be better for it. I am highly commending the State Government for what my team and I have seen so far.

“Government is a continuum. I would advise the current Government to follow the footstep of his predecessors. It is only in that way the Citizens will benefit and Kogi State will become the best place in the Country. People will know that democracy has taken root in Kogi State and the people are benefitting.

“At the end of the day, Governance is about the people. From what I have seen, from what my colleagues saw, Kogi is working in terms of education infrastructure and medical care.

“From a lay man perspective, I am not a Doctor. From what the Doctors have told me and my team and what we saw with our eyes, it is hugely impressive. The MRI machine and other laboratory equipment are very impressive. I have to commend the Kogi State Government for making this available.

“I would advise the people to put this to test and if this works, they will save Nigeria huge sums of money. Recently, the CBN Governor told the whole world that medical tourism alone is costing this country a fortune. So, if Nigerians patronise this hospital, it will save this country a lot of money and put our economy in good shape. What we have seen here, Nigeria should be happy for it.”

The Commissioner for Information in Kogi State, Kingsley Fanwo; and his Health counterpart, Dr. Adams Abdulazeez, thanked the editors for finding time to inspect the projects and encouraged them to tell Nigerians exactly what they saw.

“If we are to go round all the projects initiated and completed under the immediate past administration in Kogi State, you will be here for more than one week. There was massive projects execution,” Fanwo told the editors.

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