CAP Company, Chairman, Larry Ephraim Ettah
From Benjamin A Ameh, Lagos
The Dulux Colour Centre Concept is a revolutionary strategy that meets the needs and aspirations of the Nigerian consumers who had expected the pants market to come up to standards as in the developed economies.
Speaking at the 50th annual general meeting (AGM) of CAP Company held on Thursday in Lagos, the Chairman, Larry Ephraim Ettah said Cap plc is fully committed to sustainability initiative adding that the drive to formulate paints that will be Eco-friendly without compromising on quality and standards is imperative to us.
Ettah said Cap is working closely with its technical partners, AkzoNobel, to achieve this feat in the Nigerian environment; “As a forward looking business, we will continue to seek and harness opportunities that ensure we remain relevant and create more value for you our esteemed shareholders and other stakeholders. We will invest in cutting edge technology for paint manufacture that will enable your company to efficiently meet the needs of consumers, allowing them to express their colour preferences in the local variant of flagship brand
“Based on this performance, the board of directors has released a total cash dividend of N1.645billion, representing 235kobo per share for 2014 financial year which a final cash dividend of N595million representing 85kobo for every 50kobo of ordinary share to shareholders on the register of members at the close of business on May 28, 2015 for your consideration and approval including the interim cash dividend of 150kobo per share paid on November 19, 2014.
The Chairman noted that in the face of challenging operating environment, your company recorded a commendable performance. Turnover of N6.99billion, a growth of 13percent and profit before tax of N2.44billion, an increase of 17percent over previous year were recorded.
Ettah’s worlds: “Our commitment and consistent drive to conduct our business in a healthy and safe manner, complying with all relevant laws and regulations and ensuring minimal impact on the environment was rewarded with the retention of the award of ISo 14001-2014 Certification on environmental management system (Ems).
Our practice to continue to expand operations and increase shelf presence of our products, we opened 11 new Dulux colour shops in Abakaliki, Abeokuta, Abuja, Lagos, Makurdi, Minna, Nnewi an Oshogbo respectively in other to continue to make Dulux brand top of the mind of consumers, we successfully executed the Dulux Mobile Room Makeover, an innovative marketing campaign in Nigeria, to the delight of our teeming consumers.”
Chemical and Allied Products (CAP), a subsidiary of United Africa Company of Nigeria (UAC) plc, the which evolved from the world-renowned British multinational imperial chemical industries plc since 1957.
