This report is targeted at our investors who do not communicate with us via email. we decided to drop the report for them here, potential investors too can pick one or two info that can spur them on. thanks...
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Dear Sir/Ma,

Seasoned Greetings to all our esteemed investors. Just as it is our tradition to give you our score card for the each year, here we are again for the scorecard of the year 2013. We thank GOD for his mercies this year, as this year remains the most significant one for Penthouse Nigeria Limited. New lessons were learnt and we can boldly say we came on top. Follow us as we take you through the milestones we achieved this year. Also included are the projections for industry in the year 2014.

We started the year with full speed and by middle of the year, we added an additional 2x 10 tons trucks to our fleet. Worthy to note is the fact that with these 2 trucks began an era of FL6 Volvo truck series in our fleet. By September, we had an additional 5 pieces FL6 Volvo trucks9 though 4 of these are not operational for now as they haven’t left the assembly shop) and by December, we had an additional fl6 truck.



Also, 4 pieces DAF trucks left our fleet due to old age. The number of investors increased by 1%. As we can see, our company witness significant progress and this is attributed to you our investors for your confidence and trust in what we do.

Year 2013 was a year of eye-opener for us too as a fleet management company. it opened our eyes to new methods and opportunities available in the industry. We found new methods to acquire trucks, by this, we buy Nigeria fairly used trucks which still has good chassis body and a strong frame body. we acquire this at an averagely good cost and service or replace certain parts and get them to work almost immediately. By this method, we are able to save 64% of fund which would have been spent to acquire a “tokunbo” truck, Our method worked perfectly fine as these trucks performed at 90% efficiency after 2 weeks of purchase. However, the following observations were noted:

>>The best of FL6 volvo seriies is FL6 14,FL6 15, FL6 17. FL6 18 is a no go area

>> Buying these fairly used Nigeria trucks come with their challenges. since the usage history is not known completely, certain fund must be set aside for some sundry repairs that are mostly likely to come up

>> The performance efficiency for the first week is 50% and this increases as the truck is put to work as the week progresses.


The projections for the year 2014 are quite encouraging and as we normally do to keep you abreast of potential opportunity, we encourage you to prepare for an era of 20 tons and 30 tons truck. As from January, there is going to be a downward review of income paid weekly on the 10 tons truck. This is caused by decline in demand due to high number of 10 tons in the industry. Also, by June, the returns paid will decrease and it will stay this way till October when the rain subdues. In essence, the profitability of 10 tons

PS: 2014 REPORT IS READY https://www.nairaland.com/2070246/2014-end-year-report-penthouse

trucks will be low as from January 2014. It is better to take advantage of fairly used trucks as so many of these will be up for sale. We are looking at a decrease of about 40% in the cost of acquisition.

However, there is high profitability on 20 tons and 30 tons truck as earlier stated. The weekly return on 20 tons is 100,000 while for 30 tons is 120,000. These represent an increase of 10.16% from 2012. The break down for cost of acquisition for both 20 tons and 30 tons are as follows:


>>> 20 tons Iveco( 8 tires): 3,500,000. This truck for this cost comes with a dump bucket and a tipping system.

>>>20 ton Iveco( 8 tires): 2,700,000. This truck for this cost comes with a flat bed or a box body.

>>> 30 tons Iveco: 3,300,000. This kind of truck will need a bucket body and this bucket can be bought for 2000,000.


The Good news about the 20 and 30 tons truck is that, there is a high possibility for an upward review of 0.084% on the weekly returns paid. This is based on a projection of an increased in demand for haulage service by 125% before the end of the 2nd quarter of 2014. 20 and 30 tons trucks both have a service maintenance charge of 30,000 once every month. Since we are buying a grade 1 tokunbo truck, we are 75% certain that there wont be a major repair or part replacement of not more than 30,000 Monthly for the first 7 months. That’s an average of 6.6% of income spent on repairs and servicing. By these
Projections, it is expected that in 14 months, the 30 tons truck would have raked in enough income to purchase another grade 1 truck while still in good shape and form. Same applies to 20 tons truck but just 9 months.

The future remains bright for us as we fast track our fleet expansion projects. The increase in the construction industry and the Government policy which insisted on local content of at least 40% in all projects in the country has opened a new vista of opportunities for local haulage company like ours. This will in-turn translate to better returns for you our investors. Despite the crude Petroleum and natural Gas sector decline by 0.9% during the year, robust growth of 7.9% in the building and construction industry continued to drive the Nigerian economy. This growth was achieved in spite of the bad terrain/road in Nigeria. Growth in the Building and Construction sector remained strong at nearly 12.6% ahead of 11.3% achieved in 2012( NBS). This sector is the third-fastest growing economy in Nigeria, behind Telecommunications and Solid minerals.

It is planned that by July 2014, we shall be able to lease out trucks for Big constructions that last for years. We are dearly on the right track and are poised for improved performance in 2014.

On behalf of myself and my staff, I thank you for your support, confidence and most especially your prayers which has in no small measure enhanced our superb performance in the year under review.



Oluseye Olayiwola
Principal partner
Penthouse Industry limited

jam04: trucks will be low as from January 2014. It is better to take advantage of fairly used trucks as so many of these will be up for sale. We are looking at a decrease of about 40% in the cost of acquisition.

However, there is high profitability on 20 tons and 30 tons truck as earlier stated. The weekly return on 20 tons is 100,000 while for 30 tons is 120,000. These represent an increase of 10.16% from 2012. The break down for cost of acquisition for both 20 tons and 30 tons are as follows:


>>> 20 tons Iveco( 8 tires): 3,500,000. This truck for this cost comes with a dump bucket and a tipping system.

>>>20 ton Iveco( 8 tires): 2,700,000. This truck for this cost comes with a flat bed or a box body.

>>> 30 tons Iveco: 3,300,000. This kind of truck will need a bucket body and this bucket can be bought for 2000,000.


The Good news about the 20 and 30 tons truck is that, there is a high possibility for an upward review of 0.084% on the weekly returns paid. This is based on a projection of an increased in demand for haulage service by 125% before the end of the 2nd quarter of 2014. 20 and 30 tons trucks both have a service maintenance charge of 30,000 once every month. Since we are buying a grade 1 tokunbo truck, we are 75% certain that there wont be a major repair or part replacement of not more than 30,000 Monthly for the first 7 months. That’s an average of 6.6% of income spent on repairs and servicing. By these
Projections, it is expected that in 14 months, the 30 tons truck would have raked in enough income to purchase another grade 1 truck while still in good shape and form. Same applies to 20 tons truck but just 9 months.

The future remains bright for us as we fast track our fleet expansion projects. The increase in the construction industry and the Government policy which insisted on local content of at least 40% in all projects in the country has opened a new vista of opportunities for local haulage company like ours. This will in-turn translate to better returns for you our investors. Despite the crude Petroleum and natural Gas sector decline by 0.9% during the year, robust growth of 7.9% in the building and construction industry continued to drive the Nigerian economy. This growth was achieved in spite of the bad terrain/road in Nigeria. Growth in the Building and Construction sector remained strong at nearly 12.6% ahead of 11.3% achieved in 2012( NBS). This sector is the third-fastest growing economy in Nigeria, behind Telecommunications and Solid minerals.

It is planned that by July 2014, we shall be able to lease out trucks for Big constructions that last for years. We are dearly on the right track and are poised for improved performance in 2014.

On behalf of myself and my staff, I thank you for your support, confidence and most especially your prayers which has in no small measure enhanced our superb performance in the year under review.



Oluseye Olayiwola
Principal partner
Penthouse Nigeria limited

Hello,
I came across your post and I have a few questions for you. Are you into truck management? What does this entail? I see you posted costs of weekly delivery, are these guaranteed (NO STORIES!!!)? Do you insure the trucks or do the owners still have to insure the trucks? What are your contract terms?
In other words, you posted a brief but failed to explain the genesis. So if you could address these issues, it will be appreciated.

Hello Missktinz,
Thanks for your message. yes we are into truck management. you bring in your truck( we have specs) and we manage them for you. we pay FIXED returns weekly( we have some investors who receive theirs monthly).

The cost we posted are GAURANTEED returns as nothing changes it. we do not insure the trucks, the truck owners does.

Contract terms are as open as stipulated on the thread page dedicated for the dump truck business. you bring it in, we handle expenses not more than 5000 per week(either aggregate or 1-time expense). any expenses more than this, is bore by the truck owner.

you can refer here to understand better: https://www.nairaland.com/1173518/investors-needed-dump-trucks-haulage

you are free to ask more questions and i will be glad to answer them or you can send us an email ifyou prefer private discussion.

olulay@yahoo.com

thanks

jam04: Hello Missktinz,
Thanks for your message. yes we are into truck management. you bring in your truck( we have specs) and we manage them for you. we pay FIXED returns weekly( we have some investors who receive theirs monthly).
The cost we posted are GAURANTEED returns as nothing changes it. we do not insure the trucks, the truck owners does.
Contract terms are as open as stipulated on the thread page dedicated for the dump truck business. you bring it in, we handle expenses not more than 5000 per week(either aggregate or 1-time expense). any expenses more than this, is bore by the truck owner.
you can refer here to understand better: https://www.nairaland.com/1173518/investors-needed-dump-trucks-haulage
you are free to ask more questions and i will be glad to answer them or you can send us an email ifyou prefer private discussion.
olulay@yahoo.com
thanks

Hey

I send an email to (olulay@yahoo.com) Please reply me..

SAKUR:


Hey

I send an email to (olulay@yahoo.com) Please reply me..

I didn't get the email sir. I only receive a. PM notice from Nairaland. Kindly resend sir

SAKUR:


Hey

I send an email to (olulay@yahoo.com) Please reply me..

Replied!

another end of the year report coming soon

done... our end of the year report for the year ended, 2014

https://www.nairaland.com/2070246/end-year-report-penthouse-industry#29374389