By Peter Egwuatu
VITAFOAM Nigeria Plc has ascribed its good financial performance to the commitment of its key distributors, sub dealers, comfort centre operators, business partners and other stakeholders, just as it foresees brighter future for its markets.
The company posted Profit After Tax, PAT, of N1.14 billion in the third quarter 2019, Q3’19, an increase of 121 percent over N515 million recorded in the preceding year.
Consequently, market observers were quick to state that the company would announce higher profitability for the financial year.
Addressing the company’s stakeholders at its National Distributors’ Award in Lagos, the Group Managing Director, Mr. Taiwo Adeniyi explained that the symbiotic relationship between the company and its stakeholders enhanced a winning formular at the root of Vitafoam’s consistent dominance of the market after almost six decades of existence.
He said: “I feel greatly delighted to acknowledge the sterling accomplishments of these partners, many of whom have remained with the company through thick and thin. We foresee brighter future for our markets. Together, we have crossed oceans, moved boundaries, broken barriers and raised the industry bar. It is indeed gratifying to state that the symbiotic relationship we share has enabled the company to orchestrate a winning formular that is at the root of Vitafaom’s consistent dominance of the market after almost six decades in business.
“Besides being at the frontline of ensuring availability of our products to the final consumers, these trade partners have also played significant role of ensuring that we remain at the top of the game by way of superior products offerings through constructive feedback and genuine criticisms. If business is really a war, these brave men and women have demonstrated gallantry and courage expected of a winning infantry.”