Media Trust Cooperative records 83% rise in surplus

The Media Trust Multipurpose Cooperative Society Limited Thursday said it recorded better performance in 2020 with 83 percent increase in its surplus revenue.

Acting Chairperson of the cooperative, Mrs Rukayat Raji, disclosed this during its Annual General Meeting (AGM) at the corporate headquarters of Media Trust Limited (MTL) in Abuja.

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She explained that the cooperative recorded a surplus of N912,925.17 in 2019, while the surplus jumped to N5,338,589.30 in 2020 which indicated an 83% increase.

The cooperative also revealed that it lost not less than 57 members during the company’s restructuring last year during to COVID-19.

Mrs Raji, noted that the cooperative got 19 and 22 new members in 2019 and 2020 respectively.

“As you know, the year remained a very important milestone for the cooperative as we struggle to remain afloat despite the challenges of COVID-19 and the retrenchment of some of our members.”

She also charged members to start developing their plots of land they had acquired from proposed estate, pledging that the first five to build to window level will be supported by 100 blocks.

In her remarks, the General Manager, Human Resources and Management Services at MTL, Hajiya Hadiza Bala, lauded the executive for their wisdom in ensuring that the workers become homeowners in the capital city.

She encouraged them not to relent, adding that many goods are on their way with persistence and perseverance.