By Itohan Abara-Laserian (08152358494)
Lagos, Jan. 15, 2021 Vitafoam Nigeria Plc has attributed its turnover increase of 5.2 per cent from N22.28 billion in 2019 to N23.44 billion in 2020 among other impressive performances to innovation and expansion.
Mr Taiwo Adeniyi, Group Managing Director and Chief Executive Officer, Vitafoam, made the disclosure this in a statement made available to newsmen on Friday in Lagos.
Adeniyi said that the company’s investment in its subsidiaries as a growth strategy was beginning to pay off as the growth in total sales was up by 5.2 per cent.
“As a matter of corporate policy, we do continuous improvement on our products. We sell high margin products.
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With about six trading days left in 2020, the stock market has recovered from the decline suffered in 2018 and 2019 and is set to close with a growth of about 40 per cent, writes Goddy Egene
When trading at the stock market resumed in 2020, there was high optimism that the market would witness a recovery from the losses recorded in 2018 and 2019. The optimism was based on past experience in the market, where a rebound is always witnessed after two years’ decline.
For instance, after declining in 2015 and 2016, the nation’s bourse recovered with a jump of over 40 per cent in 2017. So when the market dipped in 2018 and 2019, market stakeholders were optimistic that 2020 will see the return of the bulls to the stock market.