Shareholders Laud Berger Paints for Posting Good Returns
Shareholders of Berger Paints Nigeria Plc have commended the management for its resourcefulness in improving the company’s fortunes in the last financial year and for paying competitive dividends and assuring them of higher shareholder value.
Commenting on the Company’s performance at its 64th Annual General Meeting in Lagos yesterday,the National Co-ordinator, Pragmatic Shareholders Association, Mrs Adebisi Bakare, stated that the 2023 performance was a significant improvement on the previous year against the background of headwins such as high energy cost, soaring inflation rate and exchange rate, in addition to low purchasing power of consumers.
Other shareholders, including the Chairman Emeritus, Independent Shareholders’ Solidarity Association of Nigeria (ISSAN), Sunny Nwosu, expressed satisfaction with the company’s impressive performance and commended its board and management for the balanced gender representation in their compositions.
The Chairman, Mr. Abi Ayida, explained that adherence to many sustainability initiatives enhanced the company’s performance in the review period. Ayida also attributed the stellar performance to five key pillars: product innovation, market expansion, operational efficiency, customer experience and strategic partnerships.
“In the face of market uncertainties, Berger Paints Plc., maintained its position as a leading player in the paints and coating industry. Our relentless commitment to innovation, product quality, and customer satisfaction has not only fortified our market presence but also empowered us to seize new opportunities for growth. Currently, Berger Paints operates within the premium and super premium segments of the market.”. explained Ayida.
