African Prudential Registrar to invest in research



Africa Prudential Registrar (APR) Plc, has set a strategic plan to invest more in research and development of innovate technology to run a learner process of lesser cost on long run and greater degree of service efficiency.

Managing Director of the Registrar, Mr Peter Ashade, disclosed this in Lagos while addressing stockbrokers at the Company’s facts behind the figure.
He said the company also planned to explore other opportunities for both organic and inorganic growth of its business which would ultimately grow the aggregate shareholders base across its client companies to over four  million by 2015 financial year end.
He said that the acquisition of UAC Registrar Limited  lends the company further credence to its aim to be the leading Registrar outfit in Nigeria and sub-sahara Africa.

The transaction according to him helped the company to grow its business inorganically by adding on four client companies with aggregate shareholder base of over 250,000.      He explained that the right issue conducted by Company which recorded 245 per cent subscription was due to improved investors confidence in the abilities management and board to deliver impressive returns.

Ashade added that  the company has committed more resources to improving its channels for interaction with  customers, shareholders and investors.
On the market share of APR, he disclosed that  out of the 197 companies listed on the NSE, the company manage the register of 27, which is about 14 per cent market share. Ashade noted that apart from  27 listed companies, there are other 19 others not listed making it a total of 46 client companies managed by APR.

The company, which is the first and only registrar firm to be listed on the Nigerian Stock Exchange (NSE), last year recorded an impressive growth.  The company in its first year after listing  rewarded shareholders with a dividend of 35 kobo per share.

Reviewing the  financial performance of the company, he said revenue grew from N1.034 billion to N1.854 billion, while profit after tax jumped from N561 million to N914 million. Total assets grew from N8.4 billion to N16.424 billion.

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