8 September 2008
Lagos — Nigerians have been advised to watch out for Eko Hospital at the market, because, "very soon, we would be going to the market to source for funds to accomplish some major projects such as the development of an international hospital at Victoria Island, Lagos."
Chairman, EkoCorp Plc, Olorogun Sunny Kuku, said this recently, at the company's Annual General Meeting in Lagos, and stated other projects to include "the Abuja hospital construction and creation of new subspecialities and products that will drive clinical growth, in line with our corporate strategy."
Kuku said the company still posted god results for the year ended December 31, 2007. "Tuenover increased from N457,690,877 in 2006 to N532,747,223 in 2007, representing an increase of 16.4 per cent.
"Our operating profit grew from N83million in 2006, to N87million in 2007. Profit after taxation grew by 10 oer cent fro N65, 610, 423 in 2006, to N72, 157, 871 in 2007, while proposed dividend increased from N49, 962, 974 in 2006, to N58, 290, 136 in 2007, representing 16.7 per cent increase.
Kuku said on the cost side, generator running expenses alone represented 25 [er cent of administrative cost, "which we tried to recover as much as possible. The financial report for 2007 revealed continued improvement in operation, despite challenges posed by administrative costs, which were kept firmly under control."
On the company's future, Kuku said "we remain focused on our goals to drive clinical growth and increase profitability of the business. We are confident that if all the projects are completed on time, utilisation would increase greatly.
"The underlying strength of the business lies with or service delivery capability, which we shall continue to leverage with the strong brand name. There is no doubt in my mind that we are committed to maintaining our leadership position in the private healthcare provider market, despite increase in competition. The future in indeed, very bright and we can build on the heritage of the business," he said.
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