Chairman of Presco Plc., Mr. Pierre Vandebeeck, has said that the resilience and robustness of the Nigerian economy makes it the destination of choice for investors despite increased challenges experienced by the business environment in 2015.
Vandebeeck said the company’s newest project tagged “Sakponba Project” would create at least additional 2500 jobs for the unemployed.
He said the “Sakponba Project” would made the company the biggest Palm and rubber industry in Nigeria and West Africa as well as helped to developing Nigeria’s
economy.
Vandabeeck stated this at the company’s 23rd Annual General Meeting (AGM) while presenting the company’s financial report to the shareholders.
He announced a profit of N2.231bn after tax for the year 2015.
The Presco boss proposed 100 kobo per share which he said amounts to N1bn for shareholders approval subject to withholding tax at the appropriate rate.
Vandebeeck said the company’s turnover for the year 2015 was N10.448bn as against N9.138bn recorded in the previous year.
His words, “The performance of the year 2015 is very good. We achieved a fresh fruit production of 176,477 tons.
“We are sailing in the right direction, making progress in all facet of our business and continually pushing forward in all fronts to sustain and further enhance our leadership position in our industry.
“2016 will see further expansion in our oil palm plantation hectarage, additional investments in processing facilities and support infrastructure and commencement of development in the 14,000 hectare new project site in Orhionmwon”.
The shareholders however approved the dividend of 100 kobo per share.
Speaking on behalf of the company’s shareholders, Bishop Goodluck Akpore praised the management for their magnanimity towards shareholders and called on government to invest in the company.
Bishop Akpore said the company which has employed over 3500 workers in the country has helped to strengthen the economy and also assisted
Nigerians who are willing to invest in farming.
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