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Shareholders laud Juli’s expansion plans

PLANS by Juli Plc, a healthcare company quoted on the Nigerian Stock Exchange to expand its business into food processing and scan services was yesterday applauded by the company’s shareholders.

Speaking at the pre-yearly general meeting held in Lagos yesterday, the company’s Chairman, Prince Julius Adelusi-Adeluyi told shareholders that the company is adding two new lines to its business, which was commended by shareholders.

Besides, he told shareholders that two products, which would be branded Juli, have been designed and would be manufactured under contract manufacturing arrangements and manufacturers identified for each of the products.

He explained that samples of the cream is undergoing relevant laboratory test at NAFDAC and approval is expected within the month of July, adding that the names of the products have been cleared and registered with the Federal Ministry of Commerce and Industry.

His words: “There is good market for antibiotics and the tropical cream. The general populace irrespective of class/status or gender buys these products. The success would be based on strong marketing efforts, which we have continued to map out.

He continued: “We are also creating a medical supermart by adding to our lines of activities scan services. The relevant equipment has been purchased and the space to house it being made up. This should become operational in the month of July.

“We are also examining going into food processing and a decision would be based on a feasibility that would justify this. The facility at the head office would accommodate the nature if considered visible.

Commenting on the development, Mr. Anthony Omojola, a shareholder said the growth plans of the company is commendable considering the fact that the board has disappointed shareholders in the past by not giving them good returns on investment.

“Lately, the management has been trying to realign, re-arrange and reposition the company. The company is more focused now. We believe with these plans, they will be able to make profit and give returns to shareholders.

Another shareholder, Mr. Godwin Anonoh said the company has a strategic location, but there is need for the board to consider expansion into other strategic areas in Lagos to boost profitability.—Guardian

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