It all started as Regional Awards for distinguished distributors in the North Central, North East, North West, Lagos and South West for over one month. Vitafoam Nigeria PLC is a company for all seasons. The company thrives even in the period of recession. The quality and innovative products stands it out among its peers. Vitafoam is a study in stable management and seamless succession plan. It is not surprising that the company’s distributors proudly make its products available to consumers. Vitafaom has consistently announced strong earnings with enviable policy of shareholder value. The company is a brand to watch.
Despite the inclement operating environment, Vitafoam posted Profit After Tax of N1.14 billion in the Third Quarter, of 2019, an increase of 121 percent over N515 Million recorded in the preceding year while market watchers were quick to state that the company would announce higher profitability for the financial year.
Lagos Sheraton Hotel played host to special guests from the private and public sector on Wednesday, December 04, 2019 when the company capped its Regional Award for Distributors with grand finale where the very best among the distributors, tagged National Winners were rewarded with trucks, exotic cars, expensive home appliances and one week fully paid trip to Dubai.
Addressing the company’s stakeholders at its National Distributors’ Award in Lagos at the weekend, the Group Managing Director, Mr Taiwo Adeniyi explained that the symbiotic relationship between the company and its stakeholders enhanced a winning formular at the root of Vitafoam’s consistent dominance of the market after almost six decades of existence.
“ I feel greatly delighted to acknowledge the sterling accomplishments of these partners, many of whom have remained with the company through thick and thin. Together, we have crossed oceans, moved boundaries, broken barriers and raised the industry bar. It is indeed gratifying to state that the symbiotic relationship we share has enabled the company to orchestrate a winning formular that is at the root of Vitafaom’s consistent dominance of the market after almost six decades in business.
“ Besides being at the frontline of ensuring availability of our products to the final consumers, these trade partners have also played significant role of ensuring that we remain at the top of the game by way of superior products offerings through constructive feedback and genuine criticisms. If business is really a war, these brave men and women have demonstrated gallantry and courage expected of a winning infantry.”, said Adeniyi.
Adeniyi reiterated that as a company imbued with visionary board and management, Vitafoam had expanded its products portfolio beyond foams by diversification through its subsidiaries which produce diverse products.
At the colorful Award Ceremony, the company rewarded the best National Distributor, Alhaji Idi Ankwa of Idi Ankwa Enterprises , second best, Alhaji Muhammad Maikatifa of Maikatifa and Sons and the third, Mr Benjamin Oti of Canopy Global Investment with a truck truck each while the three top winners would proceed for one week fully paid trip to Dubai.
Apart from the top National Winners, Vitafoam rewarded another 25 key distributors across North Central, North East, North West, Lagos and South West with various prices, including exotic cars.
The awardees showered encomiums on the company and pledged continued patronage of its products.
In one of the regional award ceremonies prior to the National one, Vitafoam’s Commercial Director, Mr Sola Owoade who represented the Group Managing Director congratulated the awardees for their loyalty to the company. Owoade explained that without the distributors, the company’s products would be unknown.
According to him, the Award Ceremony is to create a relaxed atmosphere where the company and the distributors can unwind as partners in progress.
“ Vitafoam places premium on its customers and will continue to encourage feedback in order to ensure that they make the company’s products their first choice. This forum shall be sustained as we shall continue to reward hard work and perseverance.
“ The company shall not renege in its policy of quality, innovative and customized products to constantly meet expectation of diverse customers in this era of Information Technology .”, Owoade said