Haldane McCall outlines strategic growth plan

Group Managing Director, Haldane McCall Plc, Dr. Edward Akinlade, has outlined that the company would pursue a dual strategy of growing incomes from hospitality business and strategic residential developments to boost shareholders’ returns.

He noted the successful leasing of 48 apartments in Porto-Novo, Benin Republic, as proof of regional demand.

“This is a key milestone, demonstrating that our phased expansion and disciplined project execution generate tangible results,” Akinlade said.

He outlined that the company’s N250 billion debt programme, structured in tranches, was designed to align with project cash flows and mitigate borrowing risks, complemented by a rights issue to support shareholder participation.

“Our Suru Express Hotels portfolio continues to grow occupancy and earnings, giving us recurring revenue that underpins dividends,” Akinlade added.

With residential projects like Majidun Estate in Ikorodu and completed developments in Ketu, Lagos, and Porto-Novo, the company is positioning itself for long-term shareholder value creation while exploring selective opportunities in Ghana and Benin Republic.

“Even as we expand into West Africa, our priority remains delivering predictable returns for shareholders,” Akinlade said.

He said the company maintains a dividend payout policy of 30 per cent of net profit, underpinned by recurring hospitality income, phased project delivery and disciplined capital allocation, a framework designed to balance growth ambitions with consistent shareholder returns.