Shareholders of Omatek Ventures Plc, the only computer manufacturing firm listed on the Nigerian Stock Exchange (NSE), should expect improved returns on their investments as the company has returned to profitability.
The company, which ended 2011 with a loss of N372 million, has reported a profit after tax of N248 million for the third quarter (Q3)ended September 31, 2012. High operating costs and interest charges have depressed the financial performance over years leading to non-payment of dividends.
Shareholders of the company have only received dividends once. However, going by the Q3 result of the company, shareholders should expect more returns going forward. According to result, Omatek Venture grew its revenue from N687 million in 2011 to N1.331 billion in 2012.
Profit after tax stood at N248 million in 2012, compared with a loss of N67 million loss in the corresponding period of 2011, indicating a growth of 93.4 per cent growth.
The Group Managing Director of Omatek, Mrs. Florence Seriki recently assured the company had put in place strategies that would help to boost its performance and reward its shareholders.
“We have a lot of new things in store for our shareholders, and we can assure you all that your company would begin to turn in more impressive performance in the coming months. We have put things in place and introduced new products that would attract more investors into the business. Our factory, which is fully equipped, is a pioneer in the production of completely knocked down processes, and is involved in the production of Omatek brands of casings, speakers, computers and notebooks, with its locations in Nigeria and Ghana.
According to her, the company has made many innovations that equally boost its earnings.
Omatek has pioneered the 24 hour Alternate Power Solution, using Solar, UPS/inverter, battery, Led Bulb Hybrid and providing 24-hour lighting with no generator or diesel; whilst reducing power and energy consumption by 85 per cent,’’ Seriki said.
Read more on this day news paper Click here
