By Peter Egwuatu
Despite the challenges in the operating environment, May & Baker Nigeria Plc has been able to weather the storm in the last decade as it is now in a strong liquidity position following its proactive measures in sourcing long term credit facilities as well accessing the Central Bank of Nigeria, CBN, intervention facilities among others.
The Managing Director/CEO, Mr Nnamdi Okafor disclosed this at a media luncheon in Lagos. saying:“ Taking over from a company a decade ago when Profit Before Tax, PBT was barely a third of a billion naira and to triple this to becoming a billion naira-profit company, doubling the balance sheet size from N7billion to N14 billion and doubling shareholders’ equity from N3billon to N6billion were not an easy task.”