Friesland Campina Records 5.14 Per Cent Turnover
FRIESLAND Campina WAMCO Nigeria PLC, makers of premium dairy products Peak, Three crowns and Frisco milk brands, has declared a turnover of N126.44 billion in 2014 against N120.26 billion in 2013.
The company’s commercial and financial performance remained satisfactory in spite of the harsh business environment, as turnover increased by 5.14 percent; Profit Before Tax (PBT) decreased by14.55 percent from N19.31 billion to N16.50 billion due to significant increase in the cost of dairy raw materials.
The board of directors therefore recommended, dividend of N4.33 per ordinary share of N0.50 each to shareholders, having paid an interim dividend of N3.91 per N0.50 in November 2014. The shareholders approved the final dividend bringing total dividend already paid to N8.24 per No.50 share in the year under review.
Shareholders recognised the efforts of the board of directors and management for their consistent performance despite the lull in economic activities and increased pressure on the business landscape. Accordingly, the board of directors acknowledged the efforts of the management for uits culture of continuous improvement in building capability, developing and expanding company facilities, upgrading its maintenance systems and overall efficient use of resources over the years.
Meanwhile, the company celebrates its 60 years of delivering consistent quality dairy nutrition to its teeming loyal consumers nationwide. The Managing Director, Friesland Campina WAMCO Rahul Colaco, said Peak has continued to remain strong after 60 years in the market.