Learn Africa Plc (formerly Longman Nigeria Plc) has recorded a turnover of N2.39 billion for the year ended March 31, 2021, a decrease of 16 per cent from $2.87 billion posted last year.

The company also posted a profit before tax (PBT) of N282.08 million and an operating profit of N161.08 million.

Hence, the board has approved a dividend of 15 kobo for each 50 kobo ordinary share subject to appropriate statutory deductions. The amount translates to N115.7 million.

Chairman of the company, Emeke Iwerebon, explained that during the period under review, business organisations in Nigeria had to cope with the recurring challenges of insecurity, paucity of foreign exchange, deplorable road networks, epileptic power supply and multiplicity of taxes and levies.

He added that the challenges were further compounded by the COVID-19 pandemic, which strained healthcare facilities, disrupted school activities and paralysed the entire national economy.

Iwerebon added that the lockdown and other measures instituted by the Federal Government to contain the virus caused a steep fall in demand for goods and services.