ABC Transport Plc celebrates 25 years of operations in Nigeria, West coast
Though the leading indigenous driver of transport business in Nigeria, ABC Transport Plc., had its ground finale of all celebration and activities put together to mark the Silver Jubilee (25 years) of the transport giant weekend at Owerri, the Imo State capital, Business Hilights can argue that the party had started at the floor of the Nigerian Stock Exchange (NSE) since March 29, this year when the group released its audited results for last year, recording a consolidated profit before tax (PAT) of N766.84million as against a loss after tax of N599.79million recorded in 2016.
Whereas turnover grew from N6.71billon in 2016 to N7.19billion in 2017 representing an increase of 7.15 per cent while operating loss of N490.85million recorded in 2016 reversed to an impressive profit before tax of N766.84million last year, in like manner, a profit after tax of N513.25million was earned by the group in 2017 against a loss after the tax of N599.79million recorded in 2016.
No doubt, the company re-strategised to recover from the recession which hit the transport sector, affecting the growth of Transit Support Service Limited, its auto assembly and sales subsidiary.
To reward shareholders, the firm’s board has proposed a dividend of 3k per share amounting N49.73m.
The company currently has over 22,000 shareholders and remains the only road transport company quoted on the NSE.
Ahead of this year’s 25 year anniversary, the management of ABC Transport Plc led by the founder, Chief Frank Nneji, had injected sixty brand new buses for its Sprinter operations, as part of its plan to refocus the service and bring it much closer to customers in major locations.
This plan was also informed by the change in demographics and the increasing demands for the midi bus service by travellers in other parts of the country, where ABC Transport has not been operating initially.
The Sprinter service is specifically designed to satisfy the needs of light travellers: passengers who like to travel with little or no luggage, who would rather travel smart on fully air-conditioned midi buses. With its compact yet portable size, the normal ABC Sprinter bus is best suited to operate in challenging road conditions and finding a way through tricky hold-ups – definitely to the benefits of its passengers who might not have to entertain much anxiety or fears of finding themselves stuck or stalled in traffic for too long.
Moreover, the Sprinter operates scheduled departures, thereby offering passengers early arrivals to their destinations. Unlike the typical midi buses deployed by some road transport operators, the new buses used by ABC Sprinter carry 14 passengers only, fully air conditioned and boast of more legroom, they are also equipped with LCD entertainment systems. Keeping in line with the company’s unrivalled safety policy, only three persons are allowed to sit on a row on the Sprinter buses – no cramping of passengers, no excess luggage. This is aimed at enhancing comfort of passengers while in transit. In addition, Sprinter buses are equipped with tracking devices and speed governors enabling the drivers to avoid over-speeding, based on the strict safety standards for which ABC Transport is known. Although ABC Sprinter has mainly operated dailyin Lagos, Abuja, Owerri, Calabar, Uyo, Port Harcourt, Jos, Kaduna and the West Coast [ Cotonou, Lome, and Accra] its services will now be available in most of the ABC terminals across the country. With the injection of the 60 new buses into the existing fleet, Sprinter will henceforth service customers in, Enugu, Onitsha, Benin,Kubwa, Gwagwalada, Aba, Awka, Ibadan, Umuahia, Lokoja, and Warri with other locations to be connected as the need arises. In a related development, ABC Transport is set to train over 400 members of its driving crew in readiness for the forthcoming Christmas and New Year season operations.
The season which is usually characterized by a surge in passenger traffic has always been given priority by ABC because of the numerous safety challenges experienced on our highways during the Yuletide celebrations. The training exercise is designed to heighten safety awareness among the crew members in all arms of operations during the festive period and is carried out 3 times in a year. For over 25 years, ABC Transport has been providing services in passenger operations, cargo, logistics and haulage from over 26 locations including Accra, Ghana. It is listed on the Nigerian Stock exchange and also offers hospitality services through its City Transit Inn, a budget hotel in Utako, Abuja.
Business Hilights reports that activities for the Silver Jubilee anniversary were rounded off in Owerri with fanfare.
Many of the dignitaries that graced the occasion encouraged the chairman of ABC Transport Plc., to contest the Imo State guber elections come next year. It would be recalled that Mr. Nneji had December last year declared his intention to contest the position in 2019.
