Chams Plc Promises Enhanced Returns for Shareholders
The Group Managing Director of Chams Plc, Mr. Femi Williams said the company has been recording sustained growth in revenue and profits since 2012.
In a chat with journalists in Lagos yesterday, he said the company has put plans in place to ensure sustained growth and profitability.
He promised the company’s shareholders that the manage- ment will continue to do what is possible to ensure that stakeholders’ returns are enhanced.
According to him, “We are through with the bad days and we have balanced our portfolio to be 50 per cent private sector and 50 per cent public sector. To satisfy our mass market we have launched a product call Confirme- Me.”
The product, he said, is a uni- fied platform for identity, credit and credential confirmation.
The product, he added, provides a secure platform for verifying identities using the Bank Verification Number (BVN) database.
Williams revealed that the company has invested heavily in product development adding that it has employed capable Nigerians to save scarce foreign exchange.
On what to expect from the company this year, he said, “Based on activity from last year and this year our plan was to make N800 million in earnings by June this year, we have achieved N600 million already. Based on the projects we have done this year we hope to sustain the growth in earnings and double the N600 million by the end of the current financial year.
“We also plan to invest in new products because that is where we think we can make money and because these projects takes time to mature we know we can make good return when the finally come on stream. By the end of September we expect proceeds from our investment in new products to start reflecting in our books.”
He added: “Some weeks back we took a decision to close down one of our business unit, which is Chams City. We started the business unit in anticipation for a major contract that we won with the National Identity Management Commission (NIMC). We are proud of what we achieved with that business unit, till today we hold the Guinness book of records for that project.”