Firm Targets N250bn Capital Raise To Scale Real Estate

Haldane McCall Plc has unveiled plans for a N250 billion capital raise through fixed income securities to expand its real estate and hospitality footprint, subject to regulatory approvals.

The announcement came as part of the resolutions during the company’s 2nd Annual General Meeting (AGM), where shareholders approved a dividend payout of N169.09 million, amounting to five kobo per share and expressed strong confidence in the Board and Management for what they described as an exemplary performance in a difficult macroeconomic environment marked by inflationary pressures and foreign exchange volatility.

The company reported a profit after tax of N642.46 million for the year ended December 31, 2025, slightly below the N679.63 million recorded in the previous year.

Revenue stood at N2.28 billion, with gross profit at N1.81 billion and operating profit of N754.9 million. Total assets rose to N21.83 billion, reflecting improved balance sheet strength and sustained business growth.

Shareholders unanimously passed all the resolutions presented at the AGM, including the re-election of retiring directors, further signalling confidence in the Board’s leadership and long-term strategy.

Chairman of the Board, Chief George Oguntade, reaffirmed the company’s disciplined approach to capital management, stating: “The Board remains committed to a disciplined capital allocation framework that balances immediate shareholder returns with long-term value creation.

“Historically, dividend distributions have accounted for approximately 30 per cent of total shareholder returns, while the remaining 70 per cent has been reinvested to support growth, asset acquisition, and balance sheet expansion.”

Speaking on the company’s momentum, Group managing director, Dr. Edward Akinlade, highlighted the expanding investor base and sustained confidence in the business, noting that the group’s shareholders grew from 464 in 2024 to 1,465 in 2026, reflecting strong market trust in its long-term direction.

“The group’s consistent growth in shareholders’ equity over the past five years underscores the effectiveness of this approach and reflects management’s ability to execute strategy prudently in varying market conditions,” said Akinlade.

A shareholder, Olatunji Bamidele, also hailed the Board and Management for their performance, saying: “The Board and Management have delivered an exemplary performance despite the challenging operating environment. The resilience and consistency demonstrated by the company are commendable.”

Market watchers noted that the AGM underscored a year of steady financial performance, strengthened investor confidence, and a bold forward-looking capital strategy aimed at scaling Haldane McCall Plc’s operations and long-term value creation.