The company also intends to diversify into upstream space through profitable acquisition of upstream assets.
Group Managing Director of the company, Mr Akin Akinfemi, stated this at the "Facts Behind the Figures" presentation at
He hinted that already, a
The company, according to Akinfemi , also has plan to further increase its distribution efficiency, diversified into related high margin products and improve on logistics through the acquisition of an additional 100 trucks to the already acquired 100.
In its half year 2014 financial result, the company posted revenue of N70.606 billion, up from N56.960 billion recorded in the comparable period of 2013 with gross profit rising from N5.734 billion to N8.999 billion. Profit before tax rose from N1.663 billion to N4.191 billion, while profit after tax rose to N3.134 billion from N1.391 billion recorded in 2013.
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