Sovereign Trust shareholders assured of returns on investment
Following an improved financial performance recorded by Sovereign Trust insurance Plc. in 2015, the new Chairman of the company, Mr Oluseun Ajayi has assured the boards resolve to focus on hard-work to ensure sustenance in the company’s profitability which will continue to spell maximum returns to shareholders.
Ajayi gave the assurance at the company’s 21st annual general meeting held today in Lagos.
He noted that Sovereign Trust was known for hard-work adding that new board will continue to sustain the tempo.
“We are working hard to ensure profitability, we are working harder now than before, only that we are challenged by the harsh economic environment, we, the new board will work together always to ensure that we grow the business to the benefit of the shareholders”, said Ajayi.
He equally pointed out the company was focusing of training of the its board members as a way of enhancing and sustaining business growth adding that the firm has put in place measures to enhance income generation.
” We have deployed measures and strategies aimed at increasing income generation and position the brand more competitively while continuing relevant cost reduction measures in all areas of our business”, he assured.
Ajayi stated that in spite of the tough operating environment terrain, ” your company has sustained a considerable growth in profit after tax with a record of 97 per cent increase from N294.9 million recorded 2014 to N582 million in 2015. This achievement is traceable to several cost reduction mechanism adopted by the company in the course of the year” he said.