Vitafoam declares N1.14bn PAT, rewards Lagos distributors

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Senate re-Introduces South West Development Commission Bill

By Nkiruka Nnorom

VITAFOAM Nigeria Plc, in the third quarter financial year 2019, Q3’19, posted a Profit After Tax, PAT, of N1.14 billion, representing 121 percent growth from N515 million in Q3’18.

The company also recorded revenue of N18.3 billion in Q3’19 indicating 14.3 percent increase from N16 billion in Q3’18. Its PBT also grew by 110 percent to N1.7 billion from N788 million recorded in Q3’18.

Meanwhile, the company, weekend, in Lagos rewarded its distributors with varying prizes to demonstrate their appreciation for the remarkable performance so far attained. All the distributors went home with gifts while a star prize winner emerged for the Lagos zone.

Speaking at the award ceremony, the Commercial Director, Vitafoam Nigeria Plc, Mr. Sola Owade said: “The remarkable results recorded by the company cannot be achieved without our distributors. This is just a way of saying thank you for the support.

“We are going to have another national award coming in December, 2019 at the Lagos Sheraton Hotel where we will select zonal winners and take them for a trip in Dubai for one week.”



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