Business

NASCON plans new products as shareholders laud coy on dividend payout

Published

8 years ago

May 5, 2017

NASCON plans new products as shareholders laud coy on dividend payout

The Management of NASCON on Thursday assured shareholders of bumper returns on their investment in the company as it has concluded arrangements to roll out more products before the end of this year. When introduced, the new products will enhance the company’s turnover, profitability and ultimately rub-off positively on the shareholders.

Chairperson of the company, Yemisi Ayeni at the Annual General Meeting (AGM), held on Thursday revealed that the company recorded a turnover of N18.29 billion, representing a 13 per cent increase over the N16.18 billion in the previous year. Profit after tax, according to her, increased by 15 per cent from N2.11 billion in 2015 to N2.42 billion, while earnings per share also increased from 79 kobo to 91 kobo. As a sign of stability, the company has N2.45 billion in cash reserves for the year under review.

Unanimously, the shareholders approve the payment of 70 kobo per share dividend, representing a pay-out ratio of 77 per cent at N1.85 billion, an improvement from the previous year when it paid N1.46billion to shareholders.

To increase market share and improve efficiency, Ayeni revealed that the company will be “investing in Salt packaging and seasoning cubing lines”. For the year under review, she said while the revenue from the sales of salt increased by 24 per cent to N14.82 billion, sales from seasoning increased by 127 per cent to N0.54 billion.

Executive Director, Commercial, Fatima Aliko Dangote also assured the shareholders of good returns on their investments, noting that the company is doing so much to enhance their stakes on a consistent basis.

According to her: “…we are expanding, we are investing on new refinery for our salt and we are also looking at innovations, we are bringing other products that are going to be launched this year. So, hopefully, 2017 will be a better year for the company and also importantly for the shareholders…We placed shareholders interest so high because they have actually trusted us, they have invested in our business and as you can see, regardless of our challenges, we are still able to push really hard and declare profits. we have to take our shareholders very seriously so that they can keep trusting us, and by so doing, more people will keep buying our shares and hold us in high regards”

Recalled that the company’s Management, led by the Managing Director, Mr. Paul Ferrer paid NAFDAC’s Director-General, Mrs Yetunde Oni a courtesy visit in her office in Lagos. Mr. Ferrer had expressed satisfaction at the efforts of the Agency leadership to sanitise the food market by getting rid of fake and substandard products and turning the heat on the perpetrators, adding that the efforts had paid off. He however explained that he observed an infringement on the directives of the Agency on the packaging of industrial salts by some undesired elements. According to him, contrary to the directives of the NAFDAC that industrial salt should only be packaged in 50kg, his organization observed the existence of the industrial salt in small sizes as 5kg, 10kg, 15kg, and 20kg. He reasoned that someone somewhere has been has been repackaging the 50kg size to smaller sizes and supplying to the markets, a development he said is dangerous as people may be misled to be buying the industrial salt in place of the table salt which comes in the smaller sizes. The Dangote Salt boss therefore enjoined NAFDAC to help see to the development as the unsuspecting consumers might not know the difference between the iodized table salt and the industrial salt.

In her response, Oni thanked the NASCON management for the confidence reposed in her Agency. She said the observation was one of the many infringements her agency has been battling tooth and nail and that the NAFDAC management would not relent in the fight against every infringement to see that the people have access to right quality products always. She advised companies in the food sector to have a Post-Market Surveillance (PMS) unit in their establishment for self-regulation of their market to make enforcement easier for NAFDAC.

Business

Adron Homes Celebrates Christmas with Customers, Reaffirms Commitment to Bridging Nigeria’s Housing Deficit

Published

39 minutes ago

December 26, 2024

Sahara Weekly

Adron Homes Celebrates Christmas with Customers, Reaffirms Commitment to Bridging Nigeria’s Housing Deficit

As the world embraces the joy and warmth of the Christmas season, Adron Homes and Properties, Nigeria’s foremost real estate company, has extended heartfelt greetings to its esteemed customers while reaffirming its commitment to addressing the nation’s housing challenges.

In a message of gratitude and celebration, Adron Homes expressed deep appreciation to its customers for their trust and loyalty throughout 2024. The company highlighted its unwavering dedication to making incredible housing affordable for all Nigerians, in line with its mission of reducing the country’s housing deficit.

“Christmas is a time to celebrate family, unity, and gratitude,” the statement read. “As we reflect on the year, we are proud to have played a role in making homeownership a reality for thousands of Nigerians. Our vision is clear—to bridge the housing deficit by providing affordable, luxurious, and secure homes for all, regardless of income level.”

Adron Homes has continued to lead the real estate industry by implementing innovative solutions that make homeownership accessible, including flexible payment plans and cost-effective housing models tailored to meet diverse customer needs.

As part of its Christmas and end-of-the-year celebration, the company has launched a special festive promotions ‘Lemon Friday’ aimed at encouraging more Nigerians to join its growing community of homeowners.

“We remain committed to transforming dreams into reality. This is not just about building homes; it’s about building futures and creating opportunities for families to thrive in a space they can call their own,” the statement added.

Adron Homes extended warm wishes to all Nigerians and its global customers, urging them to embrace the season’s spirit of love and hope. “May your homes be filled with peace, joy, and prosperity this Christmas and beyond.”

Business

NIHOTOUR Calls on Hospitality, Tourism, Travel, Allied Sector Professionals for Mandated Registration

Published

2 days ago

December 24, 2024

Sahara Weekly

NIHOTOUR Calls on Hospitality, Tourism, Travel, Allied Sector Professionals for Mandated Registration

The National Institute for Hospitality and Tourism (NIHOTOUR), the regulatory and standardization authority in the sector, has invited professionals in the hospitality, tourism,travel and allied sectors to register as mandated by the National Institute for Hospitality and Tourism (Establishment) Act 2022.

A statement signed by Aare (Dr.) Abisoye Fagade, FIMC, Director-General/CEO
The National Institute for Hospitality and Tourism reads:

“Enjoy FREE registration from December 1, 2024, to January 15, 2025! This is your chance to register as a professional or practitioner at no cost.

“Don’t miss this opportunity to solidify your presence in Nigeria’s thriving tourism industry. Visit www.nihotour.gov.ng now!

“Hurry—free registration closes on January 15, 2025. Take the first step toward advancing your career in tourism today!”

Business

EGC Homes Unveils Goodness and Mercy Estate, Brand Ambassador

Published

2 days ago

December 24, 2024

Sahara Weekly

EGC Homes Unveils Goodness and Mercy Estate, Brand Ambassador

EGC Homes, a notable player in the real estate and property development sector, has made waves in the Nigerian market with its recent announcement of the launch of Goodness and Mercy Estate in Ogun, alongside other strategic initiatives.

The company emphasized its commitment to collaborating with the government to alleviate the housing deficit in Nigeria while prioritizing the well-being of residents.

In an interview with THECONSCIENCE NG, Oladapo Jimoh, the Managing Director of EGC Homes and Properties, expressed the brand’s long-term vision to bridge the housing gap and simplify the journey to homeownership.

He stated, “Current data estimates Nigeria’s housing deficit to be around 28 million units by 2024. This figure is among the largest globally and poses significant challenges, contributing to homelessness and various social issues.”

“National statistics indicate that our country faces a pressing need for approximately 700,000 new homes each year to address this deficit. As urbanization continues, these challenges are particularly evident in major cities, where affordable housing becomes increasingly scarce, forcing many into slums and informal settlements.”

The World Bank projects that Nigeria’s urban population could exceed 200 million by 2050, highlighting a potential social crisis as the lack of affordable housing leads to the rise of slums, especially in urban areas.

“As a forward-thinking and solutions-oriented company, we are dedicated to addressing these critical housing issues in partnership with the government.”

Following its successful launch in Lagos, EGC Homes has rapidly expanded its operations, acquiring a significant land bank across the southwestern region of Nigeria and enhancing its marketing strategies to effectively connect with customers.

The firm is committed to providing Nigerians with exceptional value, peace of mind, and simplifying the processes of land acquisition and homeownership.

“Our mission is to make life easier for Nigerians while assisting the government in tackling the housing deficit.”

Recently, the company introduced its premier property, the Goodness and Mercy Estate, located in Arepo and Sagamu Interchange in Ogun State, with more projects on the horizon. Its flexible payment plans and affordable property prices aim to cater to a wide audience.

Additionally, EGC Homes has appointed Titilayo Adebayo-Omotosho as its social media brand ambassador to promote the unique offerings of EGC Homes and Properties Limited to Nigerians both at home and abroad.

In her remarks, she highlighted her commitment to the vision of EGC Homes, stating, “I believe every Nigerian deserves a decent roof over their head. This aligns perfectly with the mission of EGC Homes and Properties, which is why I chose to represent the brand, promoting its exceptional estates and home packages to Nigerians and those aspiring to own homes here.”