Custodian and Allied Plc said its profit before tax rose by 11.8 per cent from N5.1bn to N5.7bn in the 2015 financial period.
The Chairman of the company, Chief Michael Ade-Ojo, disclosed this during the firm’s 21st Annual General Meeting in Lagos.
“Despite the tumultuous business environment in which the company operated in 2015, it is indeed gratifying to note that the management of the company did not only survive but thrived respectably,” he said.
The chairman also said its profit after tax rose by four per cent to N4.2bn while its gross revenue rose by 19 per cent to N29.8bn.
As part of its practice to regularly pay dividend to its shareholders, he said the Board of Directors had approved the payment of interim dividend of six kobo per share in September 2015.
Subject to the shareholders’ approval, the company proposed the payment of an additional 14 kobo per share as a final dividend to make a total dividend of 20 kobo per share in the 2015 financial year.
He said that the strength of the group was demonstrated in the structure of its assets, which stood at N57bn with cash, cash equivalent and financial assets component making up more than N38bn, or approximately 66 per cent of the total assets.
“The board has approved the incorporation of the Custodian’s Social Responsibility Foundation that will positively intervene in education, health and community development,” Ade-Ojo said.
He said the company hoped that the initiative would spur others to be similarly socially responsible for the greater good of all.
Source:© Copyright Punch Online