SHAREHOLDERS ENDORSE CHAMS’ PERFORMANCE

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SHAREHOLDERS ENDORSE CHAMS’ PERFORMANCE
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Elated shareholders of Chams Plc, a leading information and Communications Technology (ICT) with strong background in innovative and intelligence solutions have showered encomiums on the company’s return to profitability despite the inclement operating environment.

The company posted a revenue of N380 million and displayed special consideration for shareholder value by declaring a gross dividend of N 140 Million, , translating to 3 kobo per share.

Commending the company’s board and management at the 35th Annual General Meeting (AGM)in Lagos yesterday, a shareholder, Mr. Michael Cole, expressed delight at dividend declared but urge the company’s board to do more in subsequent result.

” We thank you so much for giving us 3 Kobo per share as dividend, no matter how small it is, we appreciate it going by where we are coming from. But, we are asking for more in the next result. I am impressed with the performance of the company as shown in the result and I pray God will give the management and board the strength to do more.” he said.

Corroborating him, another shareholder, Mr Olatokunbo who also expressed satisfaction with the company’s performance stated that with its deployment of information technology, the company had strong potential to generate more revenue in future.

” I appreciate the performance of the company . It has potential to increase shareholder value with its deployment of information technology in line with global practices. Nigeria today is catching up with the global trend in digitalizing everything. Most businesses require technology to drive and Chams is well positioned to deliver on its promises.”, said Olatokunbo.

Chams’ Chairman, Dr (Mrs) Dere Awosika stated that the company had been well positioned to enhance shareholders value as a result of the successful restructuring of it’s books which laid a solid foundation for it’s performance and competitiveness.

“We plan to consolidate on the progress made from the successful restructuring of our balance sheet which has helped to lay the foundation for better performance for the company, improve it’s competitiveness in the ICT sector and improve the potential of the company to pay dividends.

“ We plan to consolidate on the progress made in the previous years to deliver a strong and sustainable performance that enhances returns to our shareholders. We are marching forward in the year with confidence and optimism, knowing fully well that our businesses have been strategically positioned to take advantage of key opportunities as we stay on course in the execution of our growth strategy” she said.

Corroborating the Chairman, the Group Managing Director and Chief Executive Officer, Mr Femi Williams stated that the company’s restructuring paid off as reflected in its impressive financial performance for 2018 despite the set back of the previous year.

“It will please you to know that your company recorded a plausible financial success in 2018, despite the lossess made in 2017. In consolidation, the company made a revenue of N3.01b in 2018 as opposed to N1.95 in 2017 which is a major increase of 54% in 2018.

“ The gross profit increased by 5% to N786m in 2018 as against N743m in 2017. The bottom line improved significantly from a loss of N1.2b in 2017 to a profit of N380m in 2018. This advancement in profit and capital is an attestation to the credibility of our commitment and our business model” Williams stated.

Williams explained that because of the dynamics of changing customers behaviour, changes in development of technology, demography and modern operations, Chams Plc is focused on increasing volume of it’s business and significantly improving expense ratio to secure the company’s competitiveness.

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