FrieslandCampina WAMCO Nigeria Plc, recorded a 13.2% increase in Revenue, from N123.75 billion in 2016 to N140.08billion in 2017. They are the makers of the popular brands, Peak and Three Crowns milk.

Profit before Tax (PBT) decreased by 20.6 per cent, from N19.96billion to N15.86billion as a result of the fire incident that occurred in its evaporated milk factory.

Consequently, shareholders, at its 45th Annual General Meeting (AGM) at Muson Centre, Onikan, Lagos, approved a final dividend of N7.02 per ordinary share of N0.50 each (having paid an interim dividend of N2.20 per N0.50 in October 2017), bringing the total dividend paid out to N9.22 per N0.50 share in the year under review.

The company said although 2017 was a challenging business year, it showed resilience and determination to meet its targets and thrive amidst a difficult operating environment.

In spite of the economic headwinds, the company increased investment to improve operational efficiency by procuring two new sterilisers, a conveyor, two high speed sachet filling machines with improved technology and a dust extractor system to optimise safety in the powder plant.

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