Tripple Gee Records 17.7% Growth, Proposes N24.75m for Shareholders
According to the audited results, Tripple Gee, which produces security documents, financial instruments and stationery, posted revenue of N784.795 million in 2019, up by 5.7 per cent from N742.56 million recorded in 2018. Cost of sale went up from N545 million in 2018 to N581 million in 2019.
Distribution and administrative expenses stood at N170 million, compared with N146 million in 2018. PAT improved to N27.613 million as against N23.45 million in 2018.
Based on the performance, the board of directors has recommended a dividend of N24.75 million, which translates to five kobo per share, up from three kobo per share in 2018.
Tripple Gee is a manufacturer of financial instruments, secure and commercial documents, labels and flexible packaging materials. Its range of products and services are instrumental across industry sectors from the banking industry, government regulatory bodies and oil and gas to pharmaceuticals and fast moving consumer goods manufacturers.
According to the company, with over 37 years in the print business and a solid track record working with financial institutions, big organisations and governments to research, evolve and improve the security and quality of transactional and commercial instruments and other substrate based prints, it has continuously delivered significant return on investment to its shareholders, customers and the community in which it operates.
Tripple Gee mission is to locally manufacture and sell quality paper and paper related products of the highest global standards nationally and regionally.
“This we aim to achieve by building a motivated, professional and competent work force while delivering good return on investment to our shareholders and demonstrating corporate social and economic responsibility,” the firm emphasised.
Continued Sell-Offs Drag Benchmark Index… NSE ASI down 0.3%
Meanwhile, the bearish trading at the stock market extended to the fourth day yesterday as the Nigerian Stock Exchange (NSE) All-Share Index dipped by 0.26 per cent to close at 29,300.09, while market capitalisation shed N33.1 billion to close at N12.9 trillion.
Trading level was mixed as volume traded dipped 24.1 per cent to 108.4 million shares while value rose 5.0 per cent to N2.0 billion. The top traded stocks by volume were Lafarge Africa Plc (50.0 million shares), Access Bank Plc (23.3 million shares) and United Bank for Africa Plc (20.2 million shares).