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Tag: Ellah Lakes Plc

  • Ellah Lakes plans 100 hectares livestock farm

    Ellah Lakes plans 100 hectares livestock farm

    • New 1,500 hectares palm plantation underway

    Ellah Lakes Plc plans to diversify its earnings through new investments in livestock farming and oil palm plantation.

    Chief Executive Officer, Ellah Lakes Plc, Chuka Mordi, said the company’s expansion was aimed at enhancing operational capacity and driving long-term value creation.

    He spoke during a recent tour of stockbrokers to the company’s flagship plant in Edo State as part of a fact-finding mission aimed at assessing developments within the factories of listed companies in the real sector.

    Mordi explained that the company had mapped out a number of projects to boost its earnings on sustainable basis.

    According to him, in 2026, the company plans to plant an additional 1,500 hectares of oil palm, install a Palm Kernel Oil (PKO) mill, and allocate 100 hectares for livestock activities.

    He noted that the new investments would bring all the company’s land holdings in Iguelaba into active production and enable full capacity utilisation of its crude palm oil (CPO) mill.

    “We are currently building up our stock of seedlings to ensure uninterrupted operations. We are also exploring similar forward-planning strategies across other areas of our operations while working to optimise efficiency and productivity,” Mordi said.

    He said the company’s primary focus is on delivering sustainable value to shareholders and stakeholders.

    He expressed optimism that the company’s share price would ultimately reflect the confidence and perspective of the investing public.

    He said the outlook for the oil palm sector and its derivative markets over the next five years remains positive.

    He said: “We are optimistic that growing population will  continue to drive demand, while existing supply gaps are creating significant opportunities for investment and expansion, benefitting industry players, the broader market, and the national economy.”

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    “We are committed to aligning with global best practices and adhering to international standards. The Roundtable on Sustainable Palm Oil (RSPO) provides a benchmark for sustainable palm oil production, including community welfare, labour rights, and environmental stewardship. As the gold standard in our industry, it serves as a vital framework through which we assess and improve our operations.

    “Over the past few years, Ellah Lakes has made significant investments, which we believe the market has acknowledged. We are now on the path to becoming cashflow positive. Once this milestone is achieved, our top priority will be the distribution of dividends to our shareholders.

    “We shall continue to advocate for a stable macroeconomic environment and the development of critical infrastructure, particularly in the areas of roads and power as these are essential for optimising operations and enabling long-term growth. With these in place, we are confident that the real sector can truly thrive”.

    Executive Director, WCM Capital, Habeeb Amole, who spoke on behalf of the stockbrokers , commended the board and management of Ellah Lakes for the  significant progress in land acquisition, palm plantation development, and nursery establishment.

    He noted that composition of the board of the company features young visionary leaders, which signals ambition and growth potential.

    He said the company offers significant growth prospects for long-term investors looking to build a portfolio, especially when considering its current valuation and ambitious plans.

    He added that speculators may also benefit from the ongoing positive trends in the stock market.

  • Ellah Lakes to deepen growth with 400 hectares plantation, livestock

    Ellah Lakes to deepen growth with 400 hectares plantation, livestock

    Managing Director, Ellah Lakes Plc, Mr Chuka Mordi has said that the Ccompany placed a premium on becoming a diversified Aagribusiness over the next five years.

    According to him, the initial palm trees planted on 200 hectares of land three years ago are at the fruiting stage while additional ones are being planted on another 200 hectares.

    Mordi noted that upon completion of its  piggery’s phase one project, the Company shall produce 5000 tones of meat, every year, and thus become a strong primary source of pork products for Edo, Sapele and Warri axis.

    “Ellah Lakes  Plc’s strategy is to be a successful diversified Agribusiness over the next five years, eventually going all the way along the value chain, to consumer goods. Liquidity has increased greatly throughout the year, and we are very happy with this. We are trading at a huge  discount to Net Asset Value (NAV), but we are comfortable that our shareholders will see significant upside, going forward. As a defensive sector, our sector is probably the most resilient on the market, and we expect this to be demonstrated to the market, as we continue on our growth trajectory,” Mordi said.

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    Mordi spoke  when a delegation of stockbrokers, led  by the Managing Director, Atlas Portfolio, Muyiwa Adeyemi, visited Ellah Lakes plantation in Edo State.

    Stockbrokers commended the management of Ellah Lakes for its strategic investment in palm plantation and livestock.

    They said they were impressed by the company’s commitment to diversification and sustainable growth.

    The securities dealers, observed significant investments in palm plantation and piggery facility, which are expected to contribute substantially to the company’s revenue streams.

    Adeyemi said the visit has reinforced stockbrokers’ confidence in Ellah Lakes’ management and its ability to deliver value to shareholders.

    “We are pleased to see Ellah Lakes Plc’s proactive approach to diversifying its operations and positioning itself for long-term success. The investments in the palm plantation and livestock demonstrate the company’s focus on sustainable growth and its potential to enhance shareholder value,”  Adeyemi  said.

    The stockbrokers also expressed optimism  that Ellah Lakes’ investments would soon begin to reflect positively on its bottom line, driven by increasing demand for palm oil and livestock products. They commended the management staff for their foresight, innovation and strategic planning.

    Ellah Lakes is  reputed  as  the first agribusiness company  to be listed on the NGX. The company’s  target is to build “ an agro-industrial park over the next 5 years to consolidate the company’s primary production base whilst enhancing investment attraction as a multi-asset player”.

    With a transaction of 572 million ordinary shares in 3,097 deals , valued at N1.72 billion from June 24 – September 19, 2024, Ellah Lakes is the 17th most traded stock on NGX.