The group, in a statement, said the first-quarter results for the year 2021/22 showed further consistent remarkable performance with strong revenue growth and Profit After Tax increasing by 10 percent year-on-year to N5.4 billion despite the headwinds.
Speaking on the result, the Group Managing Director, Omoboyede Olusanya, said the first-quarter result showed a strong start to the year and a promising indication of the business's future as the company pursues operational efficiency and long-term growth.
"I am particularly pleased that we achieved an amazing top-line growth and remained profitable, with Profit Before Tax increasing by 12% and Profit After Tax increasing by 10%."
The group's revenue was N233.7bn, compared to N154.6bn in Q1 2020/21 (51% growth).
It said performance was impressive across all business segments underpinned by sustained demand in agro-allied products, particularly in edible oils and fertiliser businesses, and continued improvements in the food segment.
Copyright Daily Trust. Distributed by AllAfrica Global Media (allAfrica.com)., source