Premier Paints’ new MD charged on profitability
Following the appointment of a new managing director for the Premier Paints Plc,stakeholders in the company want the new company boss to return the firm to grow its earnings.
In deed, a cross- section of retail investors in the nation’s capital market have voiced the need for the newly appointed managing Director of Premier Paints Plc to enhance the company’s fortunes by returning value to shareholders’ funds.
Some of the retail shareholders in the Nigeria capital market, who spoke to Daily Times, no doubt, the new helmsman faces the challenge of reversing the company’s negative business trends.
Speaking to Daily Times Nigeria, shortly after appointment of Dr. Mufutau Adeoye as the new CEO of premier paints, some of the shareholders said that the new CEO has a lot of challenges to contend with.
Mr. Patrick Ajibola, a retail investor, told Daily Times in Lagos recently that the company’s new MD has to restore value and investor’s confidence with aggressive approaches to drive gross margin through increased sales, low operating expenses; reduced cost of sales and low cost of funds, among other indices that weaken the bottom-line.
He said that there is need for the new MD to consolidate market presence, enhance earnings and return more value to shareholders.
Dr Mufutau Adeoye was recently appointed new managing director&CEO of premier paints, which has been approved by the board of the company, as announced by the Nigeria Stock Exchange (NSE)
Until his appointment, Adeoyo was the immediate past, general manager, sales and marketing of the company.
He performed key functions in the manufacturing sector over the years. His strong background in multidisciplinary training prepared him for top level management responsibilities in blue chip organizations,” said the company in a statement signed by the Company’s Secretary/Chief Compliance Officer, Mrs. Fatima Abeni Lawal,
The Ogun state- based company says it is committed to producing superior paints, coatings and similar products at premium quality .
The company recorded previous close of N10.39 and a 52Week range of N10.39 – 10.39, as well as, one year return on investment of 0.00%, year to date. Premier Paints has rewarded investors with 0.00 per cent. The company’s P/E Ratio (TTM) stood at-0.24.
