Juli Plc Marks 40 Years On Stock Exchange, Plans Asset Optimisation

Juli Plc has marked 40 years of listing on the Nigerian Exchange Limited and announced plans to optimise its assets as part of its strategy to strengthen operations and create value for shareholders.

The company disclosed this at its Annual General Meeting held to commemorate the anniversary of its listing on the Nigerian Exchange, formerly known as the Nigerian Stock Exchange.

Founded in 1970 and listed in 1986, Juli Plc said the milestone provided an opportunity to reflect on its journey and set out its plans for the next phase of its operations.

The management said asset optimisation would form the foundation of its strategic transformation, with emphasis on ensuring that its properties, business locations, operating infrastructure, inventory and working capital contribute more effectively to the company’s performance.

It said the strategy would involve reviewing the utilisation, costs, commercial potential and contribution to earnings of its existing assets.

According to the company, possible measures include improving the productivity of existing facilities, modernising viable outlets, putting underutilised spaces to productive use and considering leasing, redevelopment or strategic partnerships where commercially appropriate.

It, however, said any material transaction would be subject to careful evaluation, transparent governance and the necessary corporate and regulatory approvals.

The company said the asset optimisation strategy would be linked to its healthcare and retail operations, adding that better use of physical assets would support service delivery.

It also said improved inventory management would enhance product availability and cash flow, while investment in people and technology would improve customer experience.

Juli Plc listed strengthening its core pharmacy business, improving procurement and inventory control, maintaining working capital discipline and enhancing performance accountability among its strategic priorities.

It added that it would pursue modernisation and partnerships capable of expanding its capabilities and creating commercially viable opportunities for growth.

On shareholder interests, the company said it would focus on transparent decision-making, prudent capital allocation and measurable implementation milestones.

It said the success of the strategy would be measured through improvements in operating cash flow, outlet productivity, inventory turnover, customer retention and returns on invested capital.

The management said the AGM provided shareholders with an opportunity to engage with the company’s direction and contribute to its renewal.

As it commemorated the 40th anniversary, Juli Plc acknowledged the contributions of its founders, successive boards, employees, shareholders, customers and business partners to its development.

The company said the milestone came with the responsibility to preserve the values that had sustained it while making changes required to remain relevant and competitive.

It stated further that the next phase would focus on stronger execution, more productive assets, improved healthcare services and sustainable value creation.