Nigeria: Portland Paints Grows Profit By 159 Percent, to Raise Funds

27 May 2015

Portland Paints and Products Nigeria(PPPN) Plc recorded a growth of 159 per cent for the year ended December 31, 2014 despite the challenging operating environment. The company grew its profit after tax to N148.6 million in 2014, from N57.3 million in 2013.

Addressing the shareholders at the annual general meeting(AGM) in Lagos on Tuesday, the Chairman of PPPNP, Mr Larry Ettah, said despite the higher profit, no dividend would be paid due to strategic reasons.

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