May & Baker pays N517. 6 million dividends to shareholders | The Guardian Nigeria News - Nigeria and World News

At the 70th yearly general meeting held in Lagos at the weekend, the company’s Chairman, Senator Daisy Danjuma said despite the challenging operating environment, the firm achieved improved performance in both turnover and profit.

Danjuma also disclosed that the company’s Profit Before Tax grew by 39 per cent from N901 million in 2019 to N1.2 billion in 2020However, he explained that a 54 per cent jump in taxation from N184 million to N283 million cut down drastically on Profit After Tax with net profit growth of 35 per cent from N716 million in 2019 to N965 million in 2020.

Managing Director/CEO, Patrick Ajahi said although the year under review was one of the most challenging for the company, he noted that the company’s growth strategies showed commendable resilience during the year. Founder, Independent Shareholders Association of Nigeria, Sunny Nwosu commended the board and the management of the pharmaceutical company for their performance.

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