SKLD Integrated Services Limited (“SKLD” or the “Company”), a technology-enabled manufacturing and trading company operating across various business sectors in Nigeria, proudly announces the successful repayment of its Series II, III & IV Commercial Paper, totalling N969.1 million.
Facilitated by Coronation Merchant Bank and Afrinvest Capital Limited as the issuing house and joint issuing house respectively, this repayment marks a significant milestone in SKLD’s financial journey.
Throughout the past year, SKLD has showcased robust growth and financial resilience, maintaining consistent financial metrics despite the challenges of growing inflation and FX volatility in the Nigerian economy.
The Company reported a remarkable 40% revenue increase, demonstrating substantial growth from N2.8bn in 2022 to N3.9bn in 2023.
Furthermore, SKLD expanded its local production capacity and diversified its clientele base beyond the educational sector.
Notably, the Company increased its involvement in the supply of humanitarian relief products to both International and local NGOs as well as its partnership with OEMs for the supply and distribution of technology projects.
These business segments experienced notable growth in 2023 compared to the previous year.
As part of its efforts to optimize direct costs, SKLD entered strategic partnerships with suppliers in India for the importation of specialized fabrics unavailable locally for the manufacture of school uniforms for manufacturing school uniforms in its garment production factory in Lagos.
This strategic move not only diversified the supply chain but also promised significant production cost savings, fostering an improved bottom line in the coming years while maintaining product quality.
The successful repayment of the Company’s Series II, III & IV Commercial Paper amounting to ₦126.7 million, N252 million, and N590.3 million respectively underscores SKLD’s financial prudence and stability, reinforcing its position in the market and maintaining an unblemished track record of successful repayments since its debut issuance in the market.
Mrs Temilola Adepetun, the Chief Executive Officer and Managing Director of SKLD stated,
- “SKLD is committed to harnessing the debt capital market to efficiently fund its strategic working capital requirements in a bid to facilitate continued growth and diversification for the company. This will allow SKLD to cater to a wide range of customer audiences while delivering value to all stakeholders”.
SKLD expresses sincere gratitude for the unwavering support from stakeholders and eagerly anticipates achieving new milestones, consolidating its financial position, and contributing to sustainable growth with future issuances.
About SKLD Integrated Services Limited:
SKLD Integrated Services is a technology-driven manufacturing and trading company serving diverse business sectors in Nigeria. Renowned for its market leadership in the educational supplies category, SKLD has expanded into the distribution of technology products and supply of humanitarian relief items.
With seven (7) retail outlets strategically located across Lagos, Port Harcourt, and Abuja, in Nigeria, the Company boasts a growing customer base across various market segments, a local garment production capacity of about 8000 garments per month, and an extensive inventory of school, office, and lifestyle products, positioning it for continued growth in the years ahead.
