Tripple Gee Grows Earnings by 111%, Rewards Shareholders with Dividend

Yetunde Bello

The Chairman of Tripple Gee & Company Plc,  Mr. Sam  Ayininuola, has assured shareholders and other stakeholders of the company to expect improved performance going forward.

In his address to the shareholders at the 33rd Annual General Meeting (AGM) held in Lagos, Ayininuola said despite the challenging operating environment Tripple Gee recorded significant growth for the year ended March 31, 2023, assuring stakeholders that going forward, “I see a bright and prosperous future for our great company.”

The company grew turnover by  111 per cent from N1.506 billion in 2022 to N3.176 billion in 2023, while profit  rose by 86 per cent from N98.1 million to N182 million in 2023.

Based on the improved performance, the directors recommended the payment of 10 kobo dividend per share, which is 30 per cent higher than the seven kobo paid the previous year.

He 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 withfresh 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. According to him, the company is  committed to continuously deliver appreciable returns to its shareholders.

Speaking in the same vein, the Group Managing Director of Tripple Gee and Company Plc,  Chief(Mrs.) Adebimpe  Giwa,  emphasised that  better days are  ahead for the shareholders .

She said with the support the board, the management was working on strategies to reduce   constraints to business, especially rising operational and other costs.

The shareholders commended the board and management of the company for  growing their top and bottom-lines at time when some major companies are recording declines and losses in their operations.

They pledged their continued support  for the company to sustained its positive performance in the future.