The management of Zichis Agro-allied Industries Plc, hasannounced plans to list its shares on the Nigerian Exchange Limited (NGX), revealing that the Securities and Exchange Commission (SEC) has registered its securities for public trading.
The Agro-allied company in financial year ended December 31, 2024 declared turnover of N289 million, about 119 per cent increase over N132 million recorded in 2023. The company, however, closed 2024 with a profit of N56.7 million, about 238 per cent increase when compared to N16.8 million in 2023.
The shareholders of the company at the AGM approved the dividend of 5kobo per share with an option for script shares in lieu for who elect to opt for script shares.
Speaking at the company’s 2nd Annual General Meeting (AGM) in Lagos, the Chairman of Zichis Agro-allied Industries, Mr. Hezekiah Oshaba expressed that the company in 2024 was able to navigate headwinds and recorded a significant increase in turnover that impacted on profit.
According to him, the revenue from oil palm products in 2024 was modest at N14.28 million and it is expected to significantly contribute massively to the company’s toplineand profit substantially in years to come.
He revealed that the Egg production sales grew by 206 per cent from N50.59 million in 2023 to N154.69 million in 2024, while Chicken poultry sales grew moderately by 27 per cent as fish sales dropped by 52 per cent from N48million in 2023 to N23 million in 2024.
Speaking also, the Managing Director, Zichis Agro-allied Industries, Anthonia Akabusi stated that the company has positioned itself as a forward- thinking, diversified agribusiness with strong potential for exponential growth through vertical integration and operational excellence.
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