PZ ENDED ITS FINANCIAL YEAR WITH DIVIDEND OF 1.99 BILLION

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Pz cusson Nigerian PLC have recently announced N3.69 billion profit after tax has being paid for its financial year ended may 31,2017,representing 73.2 per cent increase over the previous N2.13 billion posted in 2013.Some Highlight of the company’s audited financial report that was released on Friday on the Nigerian stock Exchange,NSE,showed that its pre-tax profit grew BT 52.7 per cent to N4.81 billion from N3.15 previous in the year pass.The turnover at N79.63 billion was 4.5 per cent increase compared to the 69.53 billion recorded in the previous year 2016.following the high performance, the board now declared N1.99 billion dividend,translating to 50kobo per share to its shareholders.commenting on the result,the chairmen,chief kolawole jamodu,said that the company has continued to invest in projects to improve efficiencies in the mode of supply chain.Accordingly,he said that the company during the year have made so many investment,in the area of expanded distribution center in the F.C.T and also in production facilities for energy saving home electrical appliances to the tune of N1 billion.He also said that the result of this investment is going to manifest in the year coming.he added that the company would sustain the current initiative,saying that they proved to be positive and effective,He said:”we are examing focused on our strategic initiatives aimed at driving share holders value and sustaining long term growth.

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