Zichis Agro-Allied Industries Plc has reported a 119% jump in turnover for the year ended December 31, 2024, with revenue rising from ₦132 million to ₦289 million. Profit also surged 238%, from ₦16.8 million to ₦56.7 million.
The board approved a ₦0.05 per share dividend, offering shareholders cash or scrip options.
At its AGM, the company outlined expansion plans, including:
Scaling egg production from 20,000 to 100,000 birds by 2026, targeting over ₦500 million monthly revenue.
Expanding oil palm operations to 500 acres and a refinery projected to yield ₦4.8 billion annually by 2026.
Increasing feed mill capacity from 2 to 5 tons per hour.
Growing aquaculture ponds from 20 to 50.
Zichis also confirmed plans to list on the Nigerian Exchange (NGX).
Chairman Hezekiah Oshaba praised the strong results, while MD Anthonia Akabusi said the company remains committed to sustainable growth and shareholder value.