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Union Diagnostics declares N237mn dividend

By Michael Eboh
Union Diagnostics and  Clinical Services Plc has announced a dividend of N237 million for its shareholders in its 2008 financial year, representing a dividend per share of N0.08.

The company is also proposing a bonus of one ordinary share for every five ordinary shares held by its shareholders.According to a statement by the company, it recorded significant improvement in its key financial indices, in its year end, December 31, 2008, financial results, as its turnover grew by 89 per cent from N 545 million in 2007 to N1.03 in the year under review.

It posted a profit after tax of N370 million, appreciating by 45 per cent from N255 million recorded in 2007.
The Chairman, Mr. Bariyu Adeyemi, disclosed that despite the challenges facing businesses in Nigeria, the company was able to record growth and improvement in its activities in the year under focus.

He noted that it had mapped out various strategies to ensure that it continuously ensure attractive rewards to its investors in years ahead.

He said, “There is no doubt that business management continues to be increasingly challenging year-in-year out. In the last year, the board has worked closely with management to ensure the sustenance of our expansion programme.”

He disclosed that as parts of its diversification plans, it has concluded arrangements to invest about N100m into its fast food subsidiary, Goodtime Fast Food Outlet, with the aim of increasing turnover and profits in the coming years, adding that the first outlet will be inaugurated in the next few weeks.

He further stated that the company will be investing N500 million in a multi-specialist hospital, Neria Hospitals Limited, noting that the investment will help boost the company’s activities, and add value to the lives of individuals in the country.

He also indicated its plans to venture into the Health Management Organisation sector, as it is set to introduce its own HMO – Life Care Health Partners Limited.

He noted that it is opening its first HMO super centre in the northern part of the country, which will be equipped with the most comprehensive gadgets, noting that this is part of its forward integration, targeted at improving its revenue.


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