Tripple Gee Plc records 86% increase in PBT in Q1 2023, appoints two new directors

Leading manufacturer of print and packaging materials, Tripple Gee and Company c has recorded an impressive 86 per cent increase in profit before taxation for the 1st quarter of 2023 ended in March.

The company had a profit of N182,077,000 in Q1 2023 compared to 98,139,000 recorded in 2022.

The company also paid out a a dividend of 10 kobo per ordinary share of 50 kobo of the Company for the Year Ended 31st March 2023.

Speaking at the Annual General Meeting of the Company held in Lagos, the Chairman, Mr Sam Idowu Ayininuola, said in spite of the daunting economic challenges, “our Company has maintained consistent growth in the last couple of years.

“The Board and Management have had to seize the bull by the horn, come up with fresh ideas and evolve policies which have enabled the Company to safely navigate the harsh economic climate successfully.

“Hence the positive performance presented before you today.  It is obvious from the Reports before you that our Company could do even better in terms of expansion of business that will no doubt ensure more appreciable returns to the shareholders , but for capital constraints. To this end, the Board  will work with Management to proffer a solution to this problem which  without doubt is not peculiar to our Company,” He revealed.

The AGM also ratified the election of two new directors, Mrs Oluwatoyin Olusanya Onadele  and  Engr. Jude Okpala who were appointed Directors of the Company on 28th March 2023.

This was based on the retirement of Mr Olusegun Olusanya, Senator (Chief) F. Kola Bajomo mni  and Chief (Mrs) Christy N. Okoye  retired from the Board of the Company.

The Chairman of the company praised the retired Directors noting that “the Company greatly benefitted from their wealth of experience and it is gratifying that they left the Company much stronger than they met it.”