PZ Cussons set to leverage opportunities for increased shareholders’ value
PZ Cussons Plc has assured shareholders that the company is well positioned to leverage emerging opportunities in the industry to boost profitability and increase shareholders value.
The Chief Executive Officer of the company, Christos Giannopoulos, while fielding questions from Journalists during the Bell ringing occasion on the floor of the Nigerian Stock Exchange, in Lagos on Wednesday, explained that the company is doing everything within its powers to attract their suppliers to set up their operations in Nigeria.
He pointed out that the company currently imports majority of its raw material, noting that if the suppliers could set up operations in the country, it would reduce the cost of production and increase its bottom line
The PZ boss noted that Nigeria has a lot of raw materials, but, however added that if the country would increase its ability to create, it would help reduce over dependence on import products.
He maintained that the company is working hard to reduce the amount of foreign goods that comes into the country, adding that the firm has brought its associate companies and currently secured 26 hectares of land plantation which allows it to produce palm oil in Nigeria.
Giannopoulos assured that the fundamental of the company and investors’ confidence in the company remains strong.
“Nigeria has a lot of raw material, but it is the ability to create and not to depend on import products. PZ has brought its associate companies and got today 26 hectares of land plantation which allows us to produce palm oil in Nigeria.
“Nigeria was once the biggest. Palm tree in the world. So we are doing our part to be able to reduce the amount of foreign goods that Nigeria requires. The rest of our businesses are at growth stage and the old brands always looking to find the opportunities with the consumer as their taste are changing.
“As it stands today, we still import majority of our raw material, we are working very hard with our suppliers to attract them to come and set up their operations in Nigeria.
PZ has been on NSE since 1974 and since then we have paid dividend every year.
“We are one of the few companies that have done that. As long as we paid dividend, it means the fundamental of the company and confidence of investors to the company are strong.
“Business requires stability, the most important thing is for government to put in place policies or enforce policies for a long term basis, ”he added.