By Babajide Komolafe
Notore Chemical Industries Plc, has recorded ₦17.47 billion revenue for the fourth quarter ended 30th September 2021.
In a statement last weekend, Notore’s Group Managing Director, Mr. Ohis Ohiwerei, said the company is focused on achieving its nameplate capacity post-TAM and optimizing its sales distribution to cushion the rising cost of input raw materials occasioned by the devaluation of the naira.
He stated: “The relentless effort and focus of our team on attaining plant
reliability has enabled the business to maintain daily production volume output at 1,000MT. The emphasis going forward is to maintain the current daily production volumes and ramp up over the next few months to name plant capacity.”
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He added that the company’s strategy is expected to return it to profitability in the
last quarter of the current financial year, as it continues to diversify its market outreach in both Urea and NPK fertilizers.
On the outlook for the year, Ohiwerei said the company expects revenue growth of between 25% and 30% in the last quarter of the financial year, reflecting stability and reliability in the plant.
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