Haldane McCall Plc on Thursday announced its audited financial statement for the full year ended December 31, 2024 with profit before tax at N1.01bn, a significant increase of 168 per cent when compared to N378m million reported in 2023 financial year......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
The Real Estate and Hospitality company that was listed on the Nigerian Exchange Limited (NGX) closed 2024 financial year with a net profit of N679.6m, representing a significant increase of 164 per cent from N256.96m declared in 2023.
The board has recommended the sum of N220,587,900 which is 32.5 per cent of the profit after tax as dividend to be paid to shareholders at 7 kobo per shares for the year December 31, 2024.
The growth in profit was driven by an increase in revenue and management divestment in non-core business, which generated N20.82m in the year under review.
Haldane McCall in 2024 declared N3.64bn revenue, about 109 per cent increase over N1.74bn in 2023, primarily driven by N2.68bn sale of land and building in 2024, up by 156 per cent from N1.05bn in 2023.
Sale of land and building contributed about 73.6 per cent of the company’s overall revenue in 2024 as against 60.27 per cent in 2023.
From the balance sheet position, total assets of Haldane McCall closed 2024 at N21.99bn, about 22.8 per cent increase from N17.91bn declared in 2023.
The Company’s share price today gained a maximum of 50 kobo to close at N5.51 as one of the top 10 gainers following investors’ scramble for the shares:
“We are thrilled with our 2024 financial results, which demonstrate the effectiveness of our business strategy and the strength of our brand. We remain committed to delivering exceptional value to our customers, investors, and stakeholders, while driving growth and innovation in Nigeria’s real estate and hospitality sectors.”, says the Group Managing Director , Dr Edward Akinlade .
The management in a statement submitted to the Nigerian Exchange Limited (NGX) as part of the Post Listing Requirements , stated that 2024 unfolded against a backdrop of significant global economic challenges, a scenario that tested its resilience and adaptability in business.
The company in a statement said, “the global supply chain and consumer behaviour in the industry, we operate in term of operational cost, and the associated factors is well evidenced in the critical gap, we currently experienced in our National Housing Needs which has been experiencing a huge deficit.”
On the 2024 financial year performance, the company stated that it was a year of solid and significant performance, underpinned by strong commercial momentum and strategic operational efficiencies.
“Our financial results reflect not only our resilience in the face of a challenging economic environment, but also our commitment to continuous growth and value creation. We experienced a remarkable growth in our financial metrics which is a good testament to our robust business model and effectiveness of our strategic initiatives.
“Our revenue saw a significant increase of 110 per cent in 2024 above that of 2023, and the profit after tax witnessed a 164per cent increase, thus putting us at a total assets value of N21bn as at year end 2024, and represent an increase of about 23per cent growth over 2023 Financial Year,” the statement explained.
” The board has recommended the sum of of N220, 587, 900, which is 32.5 per cent of the profit after tax as dividend to be paid to shareholders at N7k per share for the year 31, December , 2024″, according to the statement. This represents both Interim and Final dividend payment for the financial year,” the statement added.