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Chams Holdco Plc. Q1 2024 Update

Q1 2024 Update

Chams HoldCo Plc is poised to surpass its feat in 2023, which saw our stock become the second most appreciated at the Nigerian Exchange (NGX). In our tradition of not leaving our investors in the dark about our journey, we are currently presenting a report on the financial performance in Q1 2024 while also providing insight into future prospects.

Q1 Overview

The inclination to improve business fortune for the Group.

Despite galloping inflation, uncertainties in the exchange rate regime, and incongruences in the energy sector occasioned by the removal of the PMS subsidy and increase in energy tariffs, we at Chams Holdco are celebrating the arrival of prominent clients. This is a sequel to capacity expansion and increased efficiency, which has the potential to drive future revenue generation to the rooftops.

Q1 Financial Performance

Despite several economic downsides, the company surpassed profitability in Q1 2024 compared to the same period in 2023. Our Q1 financial performance and financial position are depicted below:

We recorded a net income increase of 22%, underscoring our focus on the core business activities.

Q2 Outlook – reimagining financial technology in a sustainable manner

Even as we celebrate the little wins over the last 15 months down to March 2024, we are optimistic about an even better Q2 2024.

UnionPay International is our novel partner.

The partnership between Chamsswitch and Union Pay International to drive payment across the border boosts collaborations with banks. The product launch will be in June 2024. This is expected to create seamless cross-border payment with the Asian countries and thus raise our revenue generation capacity.

Financial card personalization will receive a boost.

Card Center Nigeria Ltd (CCNL), a subsidiary of Chams Holdco Plc that specializes in telecom and financial card production, is set to increase its capacity further through collaboration with OEMs due to the increased quantity demanded by our major clients.

Our investor relations contact

For more information regarding Chams Holding Company Plc’s financial prospects and investor relationships, kindly contact brands@chams.com, visit our investor relations section at https://chamsplc.com/investor-relations/ or call +2348135142047.

 

 

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