Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Company News

Neimeth Approves 1 for 5 Bonus Promises Better Returns After Facility Upgrade

Nairametrics by Nairametrics
March 19, 2014
in Company News, Corporate Press Releases, Securities
Share on FacebookShare on TwitterShare on Linkedin

Neimeth International Pharmaceuticals Plc has promised its shareholders that its ongoing facility upgrade will lead to greater returns on their investment in 2014.

The Chairman, Neimeth Pharmaceuticals, Dr. Ambrosie Orjiako, said this in Lagos at the company’s 55th Annual General Meeting.

According to Orjiako, the company is currently upgrading its facilities and working on a new manufacturing plant, all of which would boost its bottom line and return on investment for the shareholders.

RelatedPosts

Nigeria’s unclaimed dividends rises to N180 billion

Final countdown commences for Konga mid-year shopping festival

He told the company’s shareholders that the company’s focus at the moment was to enhance its production capacity and reduce manufacturing costs in order to enhance the quality of its products and secure World Health Organisation accreditation. Subsequently, he said the company would shift its focus to the expansion of its research and development in natural products.

He said,

“In fulfilment of this aspiration, we shut the (current) plant down for one month in December, 2013 to upgrade our facilities and install new equipment that cost us well of $1m. The new machines comprise fluid bed processor, high speed tableting machine, blistering machine and automatic packaging machine.

“This move as anticipated will enhance our capability, aid reduction in manufacturing cost now and in the future. This will make our products more affordable and improve profits.”

The company had returned to profitability in the financial year ended September 30, 2013 with its profit before tax rising by 350 per cent to N182m from a loss before tax of N52m in the preceding year.

Orjiako said the development meant that the company was in a good position to fulfil its obligations to the shareholders.

He stated,

“Today, I am happy to announce that in 2013, we profitably increased our turnover with growth indices of 30 per cent and hence, will be in a better position to give alternative form of returns to shareholder.”

Subsequently, shareholders approved the recommendation of the company’s Board of Directors that holders of the company’s shares get one share for every five shares held.

Source: Punch

Related

Tags: News Review

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • NNPC says over 200 illegal refineries operating in Nigeria, proffers solutions to energy crisis
    • Over N3 billion at stake as frustration, uncertainty clouds investors at Foxygreen
    • Health Preparedness: Ogun, Bayelsa, Delta states top as Lagos drops to 5th place – SBM

    Follow us on social media:

    Recent News

    How NNPC made N287 billion profits in 2020

    NNPC says over 200 illegal refineries operating in Nigeria, proffers solutions to energy crisis

    June 29, 2022
    Foxygreen

    Over N3 billion at stake as frustration, uncertainty clouds investors at Foxygreen

    June 29, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com