WAGI turnover increases by 36.4%

[Richard Akindele]

West African Glass Industry Plc (WAGI) has recorded 36.4 per cent growth in its turnover during the financial year ended December 31, 2004.

The company’s audited results for the period under review shows a turnover of N1.5 billion as against N1.1 billion in the corresponding period of 2003.
Similarly,the profit after taxation grew by 35.2 per cent from N33.6 million in 2003 to N453 million in 2004. The Sales Manager of WAGI, Mr. Ndukwe Amogu disclosed that strong support from WAGI Group accounted for about 35 per cent of WAGI sales turnover.

He further predicted that WAGI’s sales budget for the first quarter of 2006 will definitely be surpassed relative to previous years when it achieved only 50 per cent to 75 per cent of budgeted sales during the same period.
“There are also very strong indications in the market that our 2006 sales budget will be fully achieved .The Sona Group Breweries are currently increasing their total market shares with the introduction of strong international brands like Kronenburg, Tigre Buck and Becks.

In enhancing product quality standards and operational excellence, the company is currently pursuing ISO 9001:2000, ISO 14001:2004 and ISO 22000:2005 covering Quality Management Systems, Environment Management System and Food & Safety Management Systems, and to a large extent has succeeded in putting them in place� he noted.
“The accreditations of these systems by the authorised agency of the government (Standard Organisation of Nigeria (SON) are expected in the second quarter of this year,� Amogu said.
According to him, the company has also been audited by multi national companies like DIAGEO and Interbrew for product quality standards and has been so acknowledged.

“Presently, we are producing glass bottles for companies of the international repute like DIAGEO/Guinness, Interbrew and Pepsi Cola. Mountain Dew a product of Pepsi Cola which was recently
launched in the market was produced by this company,� Amogu said.
He added that “our major customers are Guinness Nigeria Plc (35 per cent), Sona Group of Breweries (35 per cent) and others (Pharmaceutical, Distilleries etc) (30 per cent).�

The company has Technical Agreement with CONSOL GLASS of South Africa, a former subsidiary of Owens Illinois, the world leader in glass container manufacture, to facilitate WAGI for technical know how.


Explaining the market potentials of WAGI, Amogu noted that “our market survey indicates that there are market potentials for the under-listed businesses during 2006: Diageo/Guinness 20 million bottles,
Group Companies 30 million bottles ,Seven Up Bottling Company 15 million bottles, Spirits/ Pharm/Other 10 million bottles, Export market 20 million bottles�.

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