Business
Vitafoam Posts N4.38bn Profit, Declares N1.88bn Dividend
Vitafoam Nigeria Plc has reported a profit after tax of N4.38bn for the year ended September 30, 2021, compared to N3.46bn in 2020.
The manufacturer of foams and other household materials declared a dividend of N1.88bn for the year, an increase of 114 per cent over the previous year, according to a statement.
The statement said the amount, which translates to N1.50 per ordinary share, had been proposed by the company’s board to be laid before the shareholders for endorsement during the company’s Annual General Meeting, scheduled for March 3, 2022 in Lagos.
Vitafoam posted a turnover of N32.01bn in 2021, an increase of 49 per cent over the N21.820bn recorded a year earlier.
Its profit before income tax stood at N6.78bn in 2021 as against N4.96bn in the previous year, an increase of 37 per cent.
The Group Managing Director, Vitafoam Nigeria, Mr Taiwo Adeniyi, attributed the company’s consistent strong performance to its innovative board and management, continuous introduction of multiple products beyond foams and huge investment in research and development, among others.
According to the statement, the business is driven by a collective commitment to a culture of integrity, accountability, and transparency.
“We conduct our operations in accordance with good moral and ethical standards while obeying relevant legislations. Our goal is to remain a responsible and responsive corporate organisation committed to ensuring healthy and comfortable living while contributing positively to the overall growth of the country,” it said.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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