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Fidson’s turnover up by 51%

Profit before tax of N540 million in year 2012 against N214 million in year 2011 showed a 152 per cent increase. Profit after tax also…

Profit before tax of N540 million in year 2012 against N214 million in year 2011 showed a 152 per cent increase. Profit after tax also recorded an increase from N55 million (adjusted) in year 2011 (18 months) to N206 million in year 2012; showing an increase of 274 per cent.
According to the Finance Director of the company, Mr. Olatunde Olanipekun said the improvements recorded were a result of concerted efforts to raise performance and productivity.
“The company is leaving no stone unturned in ensuring that it performs optimally and do excellently well  on all our deliverables, both in terms of production and sales of products across the country. We have an obligation to deliver sustainable and profitable growth to our stakeholders and we don’t intend to compromise on that obligation, despite the harsh realities of business operations in Nigeria,” he said.
Mr Olanipekun   said although a lot is happening in the country today and the flow of business operations is being hampered by the difficult economic environment, the company has devised strategies to weather the storm and make its growth sustainable.  
Based on this result, the company is proposing a 12 kobo dividend pay-out to its investors, which represents an increase of 20 per cent over the previous year. This is however subject to approval by its shareholders at the forth coming annual general meeting on a date yet to be officially communicated.