ARCOs sustained cost reduction programme lifts earnings

ARCO Petrochemical Engineering Company announced that it recorded a profit after tax of N397 million in the 2011 financial year, compared to N279.67 million for the year ended 31st December 2010; indicating an increase of 42 per cent, the board chairman, Joseph Akpieyi said at the weekend, that even as the company proposed to pay shareholders an 8 kobo per share dividend, representing a dividend growth of 300 per cent over the previous year.
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