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Coy expands investment into real estate, bakery business

Speaking at the Company’s 2012 Annual General Meeting in Lagos, the Chairman, Prof. Wale Omole, said already the financial outfit is close to completing works…

Speaking at the Company’s 2012 Annual General Meeting in Lagos, the Chairman, Prof. Wale Omole, said already the financial outfit is close to completing works on its estate just as its market share in the bakery industry is growing tremendously.
He said:  “As reported last year, the construction of Kajola Terrace Apartment is at advanced stage and going by this milestone, the project management team had given assurances to deliver the project on or before the end of the first quarter of next year.
“The Board is also pleased to inform you that KJL Bakery had commenced operations since February 2013 and has started yielding positive contribution margin within the first six months of operations. Given the current drive and market acceptability of the product, the board embarked on further expansion of the bakery in order to increase production capacity to 12,000 loaves per day towards increasing our market share by leveraging on the acceptability of the product and Kajola’s brand.”

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