Livestock Feeds Plc, a subsidiary of UAC of Nigeria Plc, has announced that it is currently investing in its supply chain operation to drive further growth, and enable it deliver better value to all stake to olders.
The Chairman of the company, Larry Ettah, while addressing shareholders during the company’s 2016 yearly general meeting held Lagos on Tuesday, said the company, in a bid to foster efficient supply chain operations, has installed massive storage facilities across the agro-ecological zones.
According to him, going by the seasonality of its production raw materials, the storage facilities would enable the company to take advantage of cheaper market prices during harvest seasons.
“One of such projects is the recently commissioned 5,000 metric tonnes Silo installation in the Aba factory. This facility is expected to position the company at a vantage position over and above the competition to increase our market share in the Eastern operation through constant product availability at better prices.”
Ettah explained that the company posted revenue of N11.1billion, representing a 23 percent growth over last year’s result. However, due to the high cost of raw materials, forex scarcity and other limiting factors, the cost of sales, according to him, witnessed a 25 per cent increase over 2015.
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