Bisi Oladele, Southwest Bureau Chief
ODU’A Investments Company Ltd has posted a Profit Before Tax (PBT) of N849 million for the 2018 financial year.
Its Chairman, Board of Directors, Engr Olusola Akinwumi and the Group Managing Director (GMD), Mr Adewale Raji, disclosed this at the company’s 37th Annual General Meeting (AGM) in, Ibadan on Thursday.
The PBT represents a 22 per cent increase from last year’s N698 million.
The company paid its six shareholders N292 million dividends for the financial year, bringing total dividends paid in the last five years to N1.208 billion. The shareholders are Oyo, Ogun, Ondo, Lagos, Ekiti and Osun states.
Akinwumi attributed the improvement in profit to “concerted efforts by both Board and Management to reposition the organisation.” He assured shareholders of the company’s commitment to strict adherence to highest standards of corporate governance and ethical leadership.
The GMD pointed out the the improvement was specifically driven by disciplined operational performance and focused effort to transform its business models to “one in which all constituent units are operating and contributing as a proper going concern that is responsible and discharging to the expectation of shareholders and stakeholders alike.”
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