Nigeria Plc has announced a
turnover of N126.44bn for the 2014
financial year, five per cent higher
than the N120.26bn it reported for
The company, which produces
premium dairy products, including
Peak and Three Crowns, provided
details of its financial performance
at its 42nd Annual General Meeting,
which was held in Lagos on Tuesday,
a statement by its Corporate Affairs
Director, Ore Famurewa, said.
Due to the significant increase
in the cost of dairy raw materials,
which was not fully passed on to
consumers; increased operating
expenses and the write-off of export
expansion grant already taken
into profit in the previous year, the
company’s profit before tax fell
from N19.31bn to N16.50bn.
The company, however, said
its commercial and financial
performance remained satisfactory
despite the harsh business
environment and its Board of
Directors recommended a final
dividend of N4.33 per ordinary
share of 50 kobo each to the
shareholders, which was approved
by the shareholders.
Having paid an interim dividend
of N3.91 per share in November
2014, the company’s total dividend
for the year stood at N8.24 per share.
Besides approving the dividend
proposal, the shareholders
commended the Board and
management for the consistent
performance despite the slowdown
of economic activities and increased
challenges in the operating

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