Battery firm unveils its four year growth plan
Eveready East Africa has unveiled a four year strategic growth plan as it unveiled the Turbo brand of batteries, which it is betting on to give itsr competitors a run for their money.
In a report released during the company’s Annual General Meeting (AGM) last week, the company also gave shareholders a total of Sh210 million special dividend (Sh1 per share), realised from the sale of a Sh1.14 billion prime land in Nakuru.
“Eveready E A is a business that is at infancy in the sense that although we are a 50-year-old, almost a majority of the products that we are dealing with today are products that we brought to the market last year after separation with Energizer Holdings,” said Eveready Managing Director Jackson Mutua.
“We developed the Turbo brand, which is now one-year-old and we are seeing a lot of milestones being achieved in terms of progress. In certain areas we have been able to move the brand to position one or two depending on the sector that we are in,” said Mr Mutua.
The MD said Turbo batteries is the product would ensure shareholders get maximum value from their investment and ensure dividends accrue higher.
“Turbo brand is owned by shareholders fully. It’s increasing market penetration is a direct benefit to the shareholders”, he said.
Mr Mutua said the company was keen to maintain its presence in all segments of batteries as a way to preserve the firm”s heritage.