Cutix PLC, one of Nigeria’s foremost cable manufacturers, has rewarded its 2024 highly performed distributors with car, fridges, generating sets and television set, challenging them to go into solar cable space, where the next frontiers lies.
Uche Igbokwe, Acting Chief Executive Officer of the company threw the challenge on Tuesday at its head office in Nnewi, Anambra State.
According to her, the next winner will be determined by who moves fastest and most strategically in the solar cable space. The opportunity is solar.
“As we celebrate today’s success, we must also look ahead. The world is changing. We are witnessing a significant shift–from traditional grid and hydro electricity to solar energy.
“This is not just a trend; it is the future. And with that future comes opportunity. At Cutix PLC, we are not just observing this shift…we are leading it.
“Our new entrant, the solar cable, represents the next phase of our growth journey. Built to be durable, braided, and reliable.
“Our solar cables are designed to meet the demands of a rapidly evolving energy landscape. This is where the next frontiers lies,” she said.
Igbokwe stressed that the winners were lightly picked, but strictly driven by three critical pillars: volume, consistency, and market growth.
“These are not just metrics, they are the foundation of sustainable success in our business. Our distributors are partners, the engine that drives our growth, the bridge between our products and market, and the reason our brand continues to thrive and expand,” she added.
On the performance overview, Chidimma Maduekwe, Head of Commercial, said the financial year 2024 recorded solid commercial performance, with revenue of N12.18 billion, representing 88% of target and a strong 31.68% growth over FY 2023.
The 2024 winners were accessed on consistent facility turnover in line with policy, strong revenue delivery and market, and sustained partnership and alignment with our growth objectives.
Six highly performed companies emerged with Pax-O Multi-link winning the Star Distributor of the year under review and went home with a Lexus 350 RX.
Other winners are E.O. Anaka, E.U. Nwankwo, Chi-Chris Ventures, Sunny Electricals and Chikanda Electricals.
Okwudili Nwosu, Co-Founder of the company, commended the awardees for demonstrating exceptional commitment and performance over the past year.
“Your achievements have set a benchmark for others and have reinforced what is possible when dedication meets opportunity,” he said.
Ogbonna Obianom, a trader at the Electrical International Market, Obosi, Anambra State, whose company made N2.1billion as against N1.8billion set target by Cutix PLC in 2024, and won the Star Distributor award, commended Cutix PLC for the gestures, noting that he had also won the highest award in 2021.