Business
Omatek Re-organises, Proposes Dividends
Management of Omatek ventures Plc has said the company has been re-organised after the world’s foremost computer companies structure to evolve necessary arms needed to execute its business.
The Group Managing Director, Omatek, Mrs Florence Seriki, who made this declaration, said despite the ravaging economic downturn that prevented other companies from paying dividend, the computer company is proposing a dividend of 5 kobo, which amounts to ten per cent of the share price at the end of its first year on the stock market. Seriki stated this while she and the management team visited the Nigerian Stock Exchange (NSE) for facts behind the figure.
She said “despite the economic downtown we have won over 100 awards between last year and now. Our turnover for this last financial year was almost N2billion. Despite the economic downtown we have been able to do this, which means with all these initiatives that have come out between then and now and our rich board members, I think we have much to deliver to the market. I assure you this is a long term company to invest in. It is not different from the way Dell started, neither is it different from the compaq we all sold.”
She noted that Omatek ventures Plc has grown into a holding Company with required subsidiaries to perform a seamless operation of its business. The companies include Omatek Computers (Ghana) Ltd, Omatek ventures (Ghana) Ltd, Omatek Engineering Services Ltd and Omatek ventures Distribution Ltd. Seriki stated that after the listing, last year, the company had undergone fundamental restructuring which created all the necessary subsidiaries a computer manufacturing company needed to penetrate the market.
She highlighted how a joint research with first class producers in Asia had resulted into manufacturing of hybrid inverters powered with solar technology. Seriki explained that Omatek continued the research and development and came up with cheaper inverters that have solar panels which will have no need for maintenance for the first five years.
She said, “We created what is called UPS inverter technology.
We started doing inverters for ATMS. Research and Development went on, and we started hybriding it with solar technology and we started creating 24-hour power solution, no fuel, no generator.
Omatek made a turnover of N1.7billion in the financial year ended June 2009 as against N283 million for the last financial year. The profit after tax went up by 90 per cent from N165 million in the previous financial year to N314 million in 2009.
A dividend of 5 kobo per share has been proposed by the board of directors.