Learn Africa Records $14 million Turnover

Learn Africa Plc. (formerly Longman Plc.) recorded an increase sales turnover of N2.2 billion ($14 million) at the end of the 2013 financial year, positioning it for a better performance in the future.  The company also declared a 12 kobo dividend for the year in view, which includes N125 million ($776,000) before and over N100 million ($621,000) after tax.

Between the year 2011 and 2013 have also been able to increase its open market sales from N800 million ($5 million) to N1.4 billion ($9 million).    Learn Africa’s Managing Director, Segun Oladapo told Journalists, last week,  that the company had performed very well following the divestment of Pearson UK from it despite operating in a tough environment.

While promising shareholders of the desire to continue strengthening the company’s sales and marketing force , Oladapo said the company has been able to execute significant bulk book supply contracts in a number of states including Ogun, Gombe and Katsina States.

Oladapo advised, “We consider this impressive patronage by individual and corporate customers as a clear indication of the confidence that they have in the continuous growth and prosperity of this company.”  The company has also concluded the restructuring of the entire sales and marketing department for optimum utilization and efficiency to enable it meet the current challenges of contemporary book business,” he said.

In regards to how the company had fared following the withdrawal of Pearson’s publications, Oladapo said Learn Africa had revised and introduced new titles into the market to replace some of the withdrawn titles. It has since replaced the ‘New General Mathematics’ to ‘New Concept Mathematics,’ ‘Junior English Project’ and ‘Senior English Project’ for ‘New Concept English,’ and ‘Brighter Grammar’ and ‘The Drum Beat’ with ‘Concise Grammar’ and ‘The Echo Series.’

Source: Ventures Africa