POSITIVE OUTLOOK FOR YEAR 2018

The review of Chams’ Group Accounts for period ended March (Q1) 2018 by the Management shows a great improvement in financial performance when compared to the corresponding period in 2017.

The company had a revenue of N739m as at March 2018 as against N335m for the same period in 2017 which is 121% increase in revenue in Q1 2018. The gross profit increased by 78% to N324m in Q1 2018 as against N182m in the same period 2017. Likewise, an improvement of 233% in the net profit of N199m in Q1 2018 as against a loss of N89m in the same period in 2017.

The strategy direction efforts of the Board and management is beginning to yield positive results, the company’s products and Business intelligent solutions are gaining wider reach and acceptance in the market place.

We are assuring our valued and respected stakeholders that Chams Plc’s products are high-technology driven business intelligent solutions that brings speed, convenience and security to transactions across a broad spectrum of our economy. They are efficient and innovative products, services and solutions that will delight our esteemed clients in both public & private sector.

In view of the various business opportunities already in the pipeline for Chams Plc, we are very positive that the year 2018 will deliver better returns on investment to all stakeholders.

About Chams Plc

We are Nigeria’s leading provider of Innovative and Beneficial Technology Solutions since 1985. We have been part of every major success story in Identity management in Nigeria since 1992 to date. Owing to our experience and expertise, we partnered with Dermalog to successfully build and deploy secure platform to enroll all banks customers nationwide, Bank Verification Number Project (BVN). Recently, we enrolled farmers across the nation in partnership with Bank of Agric (BOA) under Anchor Borrower Programme which led to increase in agricultural output in the Country, and lots more. The Company was incorporated in 1985, we have grown from a privately-owned business to a publicly quoted company listed on the Nigerian Stock Exchange.

 

Mayowa Olaniyan

Executive Director