By InvestAdvocate

Lagos (INVESTADVOCATE)-Kajola Integrated Investment Plc Thursday held an investors forum to reveal business/future plans of the Company.

In his address, Professor Wale Omole, Chairman of the Company said the forum was to listen to Shareholders advice that Kajola should create an avenue for the Owners of the Company to meet before any Annual General Meeting (AGM) to review activities, exchange ideas and compare notes on investment strategies of the organisation.

Professor Omole affirms that the forum was also a strategic session for the Board and Management to show the activities of Kajola vis-à-vis what they are doing, what the Company wishes to do and challenges.

“ Your invitation to this meeting was based on several parameters knowing that the Board, Management and the Company will benefit from the pool of your collective wisdom, industry experience and knowledge acquired over the years in various business engagements in order to move the Company to the ladder of profitability and growth” Professor Omole said.

As part of ongoing business plans of Kajola, he affirmed that construction activities have commenced at the Kajola’s Terrace Apartments in Ikeja GRA, while reconstruction work is ongoing at the Company’s Property in Yaba for the take-off of Kajola Confectionary. “These are two major additional activities which the Company is executing with vigour, aside from its core business of Real Estate Investment, Business Financing and Joint Venture businesses” he said.

On his part, Adelani Ajanaku, the Managing Director/ Chief Executive Officer (MD/CEO) of Kajola in his review of the Company’s performance for year 2011 disclosed that Gross Investible Funds of the Company as at June 30 2012 stood at N1.201 billion.

A breakdown of this shows that the amount in Properties stood at N616 million, Loans and Advances, N352 million, Money Market N130 million and Stock Market N11.320 million.

Others are investment in subsidiaries, Kajola Microfinance Bank (KJL MFB) stood at N70 million, Investment in Bakery N18 million and others at N4.0 million; making it a total of N1.201 billion in the review period.

Also, a review of the Half Year Unaudited Accounts for 2012 of the Company, showed a Gross Earnings of N56.133 million and a Profit Before Tax (PBT) of N11.263 million in the Q2 of year 2012 compared N3.768 million in the same period of year 2011; indicating an increase in PBT of 198.91 percent (198.91%) in the review period.

Ajanaku said Kajola is seeking to take advantage of the emerging opportunity in the Real Estate Sector of the Nigerian economy to fill the gap by providing qualitative and affordable housing scheme for the middle income group; especially in few major cities of Nigeria.

A breakdown of the investment in Properties as at June 30 2012 shows that N468 million, N68 million and N44 million has so far been expended in Ikeja GRA Property, Ikota Shopping Complex and Herbert Macaulay Yaba respectively.

Also, N22 million and N14 million has been invested in LSDPC Shopping Mall and Osogbo, Osun State respectively; making it a total of N616 million invested in Properties by the Company.

Ajanaku further revealed other business plans of the Company which include, Fruit Juice Production, Feed Mill and Commercial Agriculture, Bottled Water Production and Trading/Importation.