Business

NIGERIA: Premium Pensions Records N1 Billion Profit

The Premium Pensions Limited has said that its profit after tax increased from N629.58 million in 2011 to N1.020 billion at the end of 2012.

The firm also said its asset base climbed by 60 per cent in the period under review.
This was disclosed  Tuesday by the Board Chairman, Premium Pensions Limited, Mr. Aliyu Abdurrahman Dikko, during the company's 8th Annual General Meeting (AGM) held in Abuja.

Dikko explained that during the year under review, the company's profit before tax grew to N1.487 billion from N936.513 million in 2011, representing a growth of 58.77 per cent.

He disclosed that the pension fund administrator had recommended a dividend per share of 60 kobo to shareholders as against the 30 kobo per share declared the previous year. In addition, a bonus of one share for every 10 shares held that was paid in respect of the account as at the end of 2011.

"The impressive performance is a reflection of the various strategies the company had adopted and the commitment of the board in ensuring that new businesses were won, existing customers retained through the delivery of superior customer service", he said.
Also speaking, the Managing Director, Premium Pensions Board, Mr. Wilson Ideva, noted the company's turnover was N3.158 billion in 2012 as against the N2.178 billion recorded in 2011.

Ideva said: "t is improvement on all angles and we are beginning to lead the pace in the industry".

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