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FrieslandCampina WAMCO beats the odds, announces 35% revenue increase

Published

4 years ago

May 31, 2022

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

US-Based Society Lady, Fehintola-Brat Extends Eid-El-Kabir Greetings To Muslims

Published

1 day ago

May 27, 2026

Sahara Weekly

US-Based Society Lady, Fehintola-Brat Extends Eid-El-Kabir Greetings To Muslims

United States based fahionista of class, Chief (Mrs) Ayoola Fehintola-Brat has extended a warm greetings to Muslim faithful all over the world on the occasion of the 2026 Eid-El-Kabir celebration.

Fehintola-Brat who is the Balogun Egbe Obaneye Obinrin Akile Ijebu, and the Yeye Asofin of Idenaland in her message to Journalists urged Muslim to continually uphold the enduring values of sacrifice, obedience, faith, and compassion, which are central to the significance of Eid-El-Kabir festival.

A quiet philantropist whose humanitarian services has won her several laurels urged Muslims to use the spiritual occasion to pray for the peace co-existence of Nigerians regardless of religious, social and political leanings stressing that the oneness of the country should not be underplay.

In a related development, she expressed her felicitations to all sons and daughters of Ijebuland on the forthcoming Ojude Oba 2026 celebration, tasking age-groups otherwise known as Regbregbe to be more proactive in giving back to their immediate communities.

According to her, the beauty of the age-groups in Ijebuland is the need to contribute immensely to the development of the land in no small means. “This we will continue to achieve with God on our side”, she concluded.

society

Sallah: Obasa Felicitates Muslim Ummah, Commends Nigerians for APC Primaries Turnout

Published

1 day ago

May 27, 2026

Sahara Weekly

Sallah: Obasa Felicitates Muslim Ummah, Commends Nigerians for APC Primaries Turnout

The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa has extended warm felicitations to Muslims in Lagos State and across Nigeria on the occasion of Eid al-Adha.

In a statement released by his Chief Press Secretary, Mr. Dave Agboola, Obasa described the festival as a season of sacrifice, reflection, and gratitude, urging the faithful to continue to uphold the values of peace, unity, and love that strengthen the nation.

He noted that the celebration of Eid al-Adha is not only a spiritual milestone but also a reminder of the importance of togetherness and collective responsibility in building a stronger society.

He, likewise, emphasized that the festival provides an opportunity for Nigerians to renew their commitment to national progress and to support leadership that prioritizes development and prosperity.

Obasa, however, commended Nigerians, particularly members of the All Progressives Congress (APC), for their massive turnout during the recently concluded party primaries. He described the participation as a clear demonstration of the people’s confidence in the government of President Bola Ahmed Tinubu and their belief in the administration’s vision for a greater Nigeria.

“The APC primaries have shown the resilience of our democracy and the confidence Nigerians have in the leadership of President Bola Ahmed Tinubu and the Renewed Hope Agenda. This is a strong message that our people are ready to continue supporting policies that will drive growth and prosperity,” Obasa stated.

The Speaker further encouraged Muslims to celebrate responsibly, stressing that the joy of Eid should be accompanied by prayers for the continued peace and progress of Lagos State and Nigeria.

“As you celebrate with family and loved ones, may this season bring joy, peace, and prosperity to your homes. Let us remain united in our resolve to build a stronger nation,” he added.

On behalf of the Lagos State House of Assembly, Obasa wished all Muslims a happy and fulfilling Eid al-Adha celebration.

society

ABEOKUTA FILM FESTIVAL AT ILEYA

Published

2 days ago

May 26, 2026

Sahara Weekly

ABEOKUTA FILM FESTIVAL AT ILEYA

Kayshow Multimedia a filmmaking and Media organization this year 2026 holds its annual Abeokuta film festival at the Ake Palace in Abeokuta.

Alake of Egba land, Ọba Michael Adedotun Arẹmu Gbadebo has graciously endorsed the Free Training of Egba Youths on Film and Arts and the Entertainment of the the People with a FREE FILM SHOW at the AKE PAVILION. as part of the ABEOKUTA FILM FESTIVAL 2.0.

The Convener of the Film Festival Honorable Kehinde Soaga says this year’s event promises to be more exciting as distinguished personalities are sure to attend.

This includes the honorable Minister for Art Culture and Creative Economy in Nigeria, Barr. Hannatu Musa Musawa, Ààrẹ Lai Labode, Sen. Ibikunle Amosun and other special guests.

The event will feature Film, Cultural Dance Cultural foods and Award Ceremony.

The general public is hereby invited to the Free film show at the Abeokuta film festival at the Alake Palace Pavilion on Thursday 28th of May 2026 by 4:00 p.m.

Only well dressed is the Entry. The Abeokuta Film Festival is an annual event taking place in the capital city of Ogun State state.