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…Task Govt On Gas Adulteration
As part of its strategic growth drive, BOC Gases Plc on Tuesday projected a N5 billion revenue for its operation by the year 2020, even as it tasked the federal government on the need to have rules in place to check adulterations in gases that could be injurious to health.
The company said the profit projection which is a conservative one is hinged on its expansion policy outlook and breaking new sales ground in the domestic economy.
Managing Director of BOC Gases Plc, Mr. Ayodeji Oseni who made this disclosures while addressing the capital market community during the company’s Fact Behind Figures, said the company’s operation has been making new inroads into the economy in its market expansion drive even as this is bound to translate into more revenue for the company.
Oseni who frowned at the gap in ensuring the safety of medical gases to its end users, noted that why the company is fifteen steps ahead of its competitors at ensuring quality of its products’, observed that the porous way of doing business in gas in the country is challenging.
According to him, while the company will remain steadfast in the provision of quality products “recent business survey done in the economy showed that there is a huge market for our products. We are really looking inward, in the area of sales of our products. There are 24 Teaching Hospitals to be leverage on in the area of supplying of medical gases. Consulting and repairs of equipment will also be focused on as well as expanding our operations outside the shore of Nigeria.
The Managing Director who harped on continued increase in dividend yield, explained that “while our focus is to reposition the company, products and customer base for enhance shareholders’ value, and which will be achieved through people, process and technology. The company’s goals is to improve and increase production capacities, strategic customer partnerships, safety, products differentiation and quality as well as achieve a conscious cost control in our operations”, he added.
An x-ray of the company’s accounts showed that total assets grew by 17 percent from N3.63 billion in 2016 to N4.24 billion in same corresponding year in 2017. With a dividend payment of 5 kobo in 2016, the company is paying its shareholders 20 kobo for 2017 the financial year end December 31st.
Total revenue grew by 28 per cent due to aggressive marketing efforts, operational efficiencies, improved customer service delivery, generation of new business as well executed opportunities outside Nigeria.
Huge jump in Profit After Tax from N76 million to N233 million due to development of strategic marketing and sales initiatives, improved internal efficiencies, deliberate cost control measure and tireless efforts by management and staff to turn around the fortune of the company.
Photo Caption: From Left; Mr. Tony Ibeziako, Ag. Head, Listing Business Division, The Nigerian Stock Exchange (NSE); Ms Tinuade Awe, Executive Director Regulation, NSE; Mr. Ayodeji Oseni, Managing Director, BOC Gases Plc; Mr. Adeshina Alayaki, Finance Director, BOC Gases Plc; Mr. Bolaji Adisa, Human Resources Manager, BOC Gases Plc during the Facts Behind the Figures presentation at the Exchange yesterday…
