The company’s unaudited result for the three months, which ended on March 31, 2021, showed N11.95 billion PBT, representing 25.6 per cent rise when compared to N9.5 billion posted in the previous year.
Group production volume also increased by 4.3 per cent to 200,783 tonnes compared to 192,584 tonnes in 2020. The increase came from operations optimisation strategy despite the challenges of the Apapa traffic situation. The Group Managing Director/CEO, Ravindra Singhvi, said: “We commenced the year on a fair footing as our first quarter 2021 financial results show our commitment to delighting our customers and consumers with high-quality products and delivering value for all stakeholders.
According to him, the company has continued on the growth path, mitigating some of the adverse impacts of the worsening traffic gridlock in Apapa and other macroeconomic headwinds amidst protracted socio-economic uncertainties occasioned by the COVID-19 pandemic and heightened insecurity during the quarter under review.