The
Chairman, RedStar Express Plc, Dr. Mohammed H. Koguna, has reiterated the company’s
commitment to corporate social responsibility (CSR), ITRealms reports.
He said
that 11 additional scholarships were awarded to students from different schools
in the Western and Eastern Regions of Nigeria under the Red Star Foundation
Scheme, adding that under the poverty alleviation arm of the Foundation,
various items were given to missionary hospitals – Saint Catherine Hospital;
Ahmadiyya Clinic Apapa and SOS Children Village as well as Nigerian Red Cross
Society, ITRealms
gathered..
Koguna was speaking at the company’s
22ndAnnual General Meeting (AGM) held in Lagos. He noted that,
despite the challenging business environment, depreciation of the Naira, slides
in crude oil prices resulting in reduction in government revenue, dearth of
infrastructure and other macro dynamics of the economy, the company was able to
not just remain in business but returned some profit.
Red Star Express at the AGM, announced N6.7billion turnover
for the financial year ended March 31, 2015 and a profit after tax of
N611million representing one percent increase in profit over 603.9 million profit
for last year.
In keeping with the company’s
commitment in the creation of wealth for shareholders and in appreciation of their
support at all times, the company has declared dividend of 35 kobo per 50 kobo
share, amounting to N206.3 million, a gesture commended by shareholders.
ITRealms reports.
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