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CAP sustains impressive results with PBT growth of 22%

CAP sustains impressive results with PBT growth of 22%

CAP plc, a subsidiary of UAC of Nigeria plc (UAC), has continued to post impressive business performance by, announcing a 21 per cent growth in turnover to N5.23 billion for 2012 and Profit Before Tax (PBT) of N1.66 billion, which represents a 22 per cent increase in turnover from the previous year.

At its annual general meeting (AGM) in Lagos, the Company board got shareholders’ approval to pay a final dividend of N392 million, representing 70 kobo for every 50 kobo ordinary share to the shareholders. This is in addition to the Interim Dividend of 125 kobo per share paid on November 12, 2012. This brings the total Dividend for the 2012 financial year to N1.092 billion, representing 195 kobo per share.

Also approved by shareholders was a bonus issue of one ordinary share of 50kobo for every four ordinary shares of 50kobo each to every shareholder on the Register of Members as at the close of business on 24th May, 2013.

Read also: Nigeria and the ‘poverty trap’ syndrome

Speaking at the annual general meeting, Larry Ettah, chairman, CAP plc told shareholders that “We enhanced the reach of our distribution channel by opening four additional Dulux Colour Centres (DCC) in Surulere (Lagos), Gbagada (Lagos), Uyo and Abuja. Eight additional Dulux Colour Shops (DCS) were also opened in Ikorodu, Mowe, Abuja, Benin, Owerri, Calabar, Ijebu Ode and Awka. We activated the AkzoNobel “Let’s Colour” global campaign in Nigeria on our Corporate Social Responsibility platform. The ‘Let’s Colour’ campaign, an iconic event, saw us (volunteers and the employees) giving the first Orphanage in Nigeria – the Red Cross Society Orphanage at Makoko, Yaba – a “new look”.

He noted: “We launched an environment-friendly variant of our flagship brand, Dulux Trade Ecosure and also introduced the Dulux brand website, which offers the consumer greater interaction with the brand. We ensured that our products meet global quality standards, to retain the NIS ISO 9001:2008 certification of the Standards Organization of Nigeria (SON).”