Haldane McCall Plc has disclosed that its Group Managing Director, Dr. Edward Akinlade, recently sold 11,500,000 ordinary shares of the company for a total value of N60 million. The transaction, executed on April 9, 2025, at a price of N5.22 per share, was detailed in a director's dealing notice submitted to the Nigerian Exchange (NGX), as signed by the company secretary, Oyewole Olurin.

This sale has resulted in a slight adjustment to Dr. Akinlade's stake in the company. His total holdings now stand at 1,523,753,796 ordinary shares, a decrease from the previous 1,535,253,796 shares. Consequently, Dr. Akinlade's ownership percentage in Haldane McCall Plc has marginally decreased from 49.18% to 48.81% of the company's total outstanding shares, which stood at 3,122,000,000 as of December 31, 2024.

This development comes on the heels of a robust financial performance reported by Haldane McCall Plc for the fiscal year ending December 31, 2024. The company's audited results revealed a significant surge in profitability, with pre-tax profit reaching N1.01 billion. This represents an impressive 168.44% increase compared to the N377.8 million recorded in the preceding fiscal year (2023). The substantial growth in pre-tax profit was primarily fueled by a considerable expansion in the company's revenue streams.

For the full year 2024, Haldane McCall Plc reported a revenue of N3.6 billion, marking a substantial 109.50% increase from the N1.7 billion generated in 2023. A detailed breakdown of the revenue sources indicates that the sale of land and buildings was the major contributor, accounting for a substantial 73.4% of the total revenue at N2.6 billion. The hospitality sector also played a significant role, with hotel revenue contributing 19.2% or N699.8 million. The remaining 7.4% of the revenue was generated from other sources, including service charges (4.9%), miscellaneous revenue (1.9%), and rent (0.4%).

The company's operating profit mirrored the growth in pre-tax profit, also increasing by 168.44% year-over-year to reach N1 billion, up from N377.8 million in 2023. This significant rise in operating profit directly contributed to the higher pre-tax profit, further benefiting from the absence of finance costs during the period. Ultimately, Haldane McCall Plc's post-tax profit for the year stood at N679.6 million, demonstrating a strong 164.49% increase compared to the N256.9 million recorded in 2023.

Adding to the positive news for shareholders, Haldane McCall Plc had previously announced in early March a final dividend of 0.07 kobo per 50 kobo ordinary share. This dividend, subject to applicable withholding tax, is slated for electronic disbursement on Friday, April 25, 2025, to shareholders whose names were registered on the company's Register of Members as of Monday, March 31, 2025, and who have completed the necessary e-dividend registration process. This final dividend pertains to the company's performance for the fiscal year ended December 31, 2024, rewarding eligible shareholders for the company's strong financial performance during the period.