….disclose N30 million as dividend provision
‎
‎Zichis Agro Allied Industries PLC’s Managing Director, Mrs. Akabusi Anthonia Chinyere, has outlined the company’s impressive growth trajectory and future plans at the 2024 Annual General Meeting.
‎
‎The company aims to scale up its poultry capacity to 100,000 birds by Q4 2026, projecting over ₦500 million in monthly revenue from egg production.
‎
‎The company’s diversified portfolio includes palm estate and refinery, feed mill, aquaculture, and poultry farming. Key achievements include a 61-acre palm estate yielding strong returns and plans to expand to 500 acres by 2030. The feed mill’s expansion from 2 tons to 5 tons per hour will enhance efficiency and reduce costs.
‎
‎Mrs. Akabusi emphasized the company’s commitment to transparency, good governance, and shareholder value, noting that as the company prepares for its listing on the Nigerian Exchange (NGX), it reaffirms its pledge to building a lasting legacy of agricultural excellence.
‎
‎According to her, the company’s future plans include strengthening its workforce, deepening partnerships, and investing in sustainable innovations to guarantee food security and economic impact for Nigeria.
‎
‎”With a clear mission to transform agriculture through innovation, sustainability, and value addition, Zichis Agro Allied Industries PLC is poised for exponential growth and long-term value creation.
‎
‎It will be recall that, Zichis Agro-Allied Industries Plc is revolutionizing Nigeria’s agricultural sector through its diversified approach to farming and food production. With a vast farm complex spanning over 18 acres in Ogun State, the company is boosting food production, creating jobs, and contributing to the nation’s economic growth.
‎
‎An analysis of the company’s financial statement for the year 2024 showed that profit for the year climbed by 238% to N56.7 million from N16.8 million in the previous year.
‎
‎Similarly, profit before tax grew by 239% to N69.9 million in 2024 from N20.6 million in 2023, while shareholders’ fund rose to N857.16 million compared to N439.97 million in 2023.
‎
‎The company has made a dividend provision of N30 million to be paid to shareholders for the year under consideration.
‎
‎The company’s business model incorporates various agricultural activities, including oil palm estate management, poultry farming, fish farming, animal feed milling, and maize grain farming. Its management team has implemented innovative strategies to drive growth and sustainability.
‎
‎These strategies include expanding oil palm estate plantation, increasing animal feed plant capacity, brooding day-old chicks for sale, and revamping catfish production and processing. With a strong corporate governance framework and dedicated team, Zichis Agro-Allied Industries Plc is poised to achieve its goals and make a lasting impact on Nigeria’s agricultural sector.
‎
‎The company’s growth and expansion plans are expected to drive economic growth and development, positioning it as a leading player in the industry.