Stockbrokers have commended the management of Ellah Lakes Plc for its strategic investment in palm plantation and livestock.
This followed a recent visit to the company’s facilities in Iguelaba Community, Edo State, led by the managing director, Atlas Portfolio, Muyiwa Adeyemi.
The stockbrokers were impressed by the company’s commitment to diversification and sustainable growth.
The securities dealers observed significant investments in palm plantation and piggery facilities, which are expected to contribute substantially to the company’s revenue streams.
Adeyemi stated that “we are pleased to see Ellah Lakes’ proactive approach to diversifying its operations and positioning itself for long-term success. The investments in the palm plantation and livestock demonstrate the company’s focus on sustainable growth and its potential to enhance shareholder value.”
The managing director and chief executive officer, Ellah Lakes, Chuka Mordi explained that the Company placed a premium on becoming a diversified Agribusiness over the next five years.
He noted that “upon completion of its piggery’s phase one project, the Company shall produce 5,000 tons of meat, every year, and thus become a strong primary source of Pork products for Edo, Sapele and Warri axis.
“Ellah Lakes’ strategy is to be a successful diversified Agribusiness over the next five years, eventually going all the way along the value chain, to consumer goods. Liquidity has increased greatly throughout the year, and we are very happy with this.
We are trading at a huge discount to Net Asset Value (NAV), but we are comfortable that our shareholders will see significant upside, going forward. As a defensive sector, our sector is probably the most resilient on the market, and we expect this to be demonstrated to the market, as we continue on our growth trajectory.”
The Stockbrokers stated that Ellah Lakes’ investments would soon begin to reflect positively on its bottom line, driven by increasing demand for palm oil and livestock products, commending the management staff for their foresight, innovation and strategic planning.
Ellah Lakes, is reputed as the first Agribusiness Company to be listed on the Nigerian Exchange (NGX). The Company’s target is to build an agro-industrial park over the next five years to consolidate the Company’s primary production base whilst enhancing investment attraction as a multi-asset player.
