WP_DEBUG FrieslandCampina WAMCO reports a 8.5% increase in 2019 turnover - Brand Spur

FrieslandCampina WAMCO reports a 8.5% increase in 2019 turnover

Must Read

Audi electrifies FC Bayern Munich (Photos)

Enabled by the partnership with Audi: FC Bayern Munich is the first international football club to drive using electric...

#BBNaija: Betway Launches New Predict and Win Promo

Betway, premium gaming and online entertainment brand, and the headline sponsor of Big Brother Naija has launched a new...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...
- Advertisement -

Nigeria’s leading dairy processor, FrieslandCampina WAMCO, has announced a turnover of N161.83 billion (US$417.6m) for the financial year ended Dec. 31, 2019.

This was made known by Mr Ben Langat, Managing Director, FrieslandCampina WAMCO Nigeria, at the company’s 47th Annual General Meeting held virtually and under strict adherence to government-approved COVID-19 protocols, including social distancing and restrictions on the maximum number of persons at a gathering.

The company said the turnover of N161.8bn represented an 8.5 per cent increase over what was recorded in 2018.

It reported a profit before tax of N18.8bn, rising by 15 per cent compared to the previous year.

The shareholders approved a total dividend payment of N9.49 per N0.50 share, comprising an interim dividend of N2.68 per N0.50 share paid in November 2019 and a final dividend of N6.81 per N0.50 share.

- Advertisement -

The Managing Director, FrieslandCampina WAMCO, Mr Ben Langat, said the firm was able to forge ahead despite the challenging environment.

“In the year under review, the business environment remained challenging. In spite of the headwinds, FrieslandCampina WAMCO played a leading role in Nigeria’s backward integration initiative led by the Central Bank of Nigeria in the dairy sector,” he said.

Read Also:  Nigerians paid more for Kerosene and Cooking Gas in December – NBS

According to the statement, the company activated its Dairy Development Programme in Bobi Grazing Reserve, modelling its 10-year success of the programme on a 10,000-hectare grazing reserve in Mariga Local Government Area of Niger State.

“In line with its business plan, the company inaugurated a state-of-the-art factory for the production of yoghurt and introduced the new Peak Yoghurt Drink in three distinct flavours (Plain Sweetened, Strawberry and Orange) into the market,” it said.
The company said its board of directors and management remained positive and confident about its future despite the disruption by the current pandemic.

- Advertisement -

It added, “The company will remain focused on its purpose of providing better nutrition and advocating healthy living.

“FrieslandCampina WAMCO will continue to actively engage consumers and pursue its backward integration for business sustainability.”

- Advertisement -
FrieslandCampina WAMCO reports a 8.5% increase in 2019 turnover - Brand SpurFrieslandCampina WAMCO reports a 8.5% increase in 2019 turnover - Brand Spur
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

FrieslandCampina WAMCO reports a 8.5% increase in 2019 turnover - Brand SpurFrieslandCampina WAMCO reports a 8.5% increase in 2019 turnover - Brand Spur

Latest News

Lagos Commissioner Commends Traffic Radio for Projecting Government Policies

The Honourable Commissioner for Information and Strategy, Mr. Gbenga Omotoso has commended Lagos Traffic Radio for its drive and...

Stock Recommendations for the Week (21/09/2020 – 25/09/2020)

Last week, investors wealth on the local bourse appreciated by ₦10.4 billion following bargain hunting on medium and large-cap Industrial goods and Consumer goods...

Agusto & Co. assigns a fund credit quality rating of “A+(f)” and fund volatility rating of “FV5′ to Coronation Fixed Income Fund. 

Agusto & Co assigns A+(f) credit quality and FV5 volatility ratings to the Coronation Fixed Income Fund (“CFIF” or “the Fund”). The rating reflects...

Olam Cocoa hits 100% traceability target across its direct global supply chain

Olam Cocoa, a leading supplier of cocoa beans and ingredients, today announces it has achieved 100% traceability of directly sourced cocoa across its global...

Founder and CEO of 54gene Selected as Endeavor Entrepreneur

 Endeavor has welcomed a new entrepreneur into its global network; Dr Abasi Ene-Obong of 54gene was selected as an Endeavor Entrepreneur on September 17, 2020. 54gene is a...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -FrieslandCampina WAMCO reports a 8.5% increase in 2019 turnover - Brand SpurFrieslandCampina WAMCO reports a 8.5% increase in 2019 turnover - Brand Spur