The Chairman, ChamsAccess, Dr. Evans Woherem, has said the company is poised to consolidate on its 2018 impressive financial year performance and enhance investors’ return going forward.
Speaking at the company’s 2nd Annual General Meeting (AGM) in Lagos, recently, the Chairman, said the company performed overwhelmingly better in 2018 and delivered commendable volumes in the course of the financial year.
The company’s commercial and financial performance showed outstanding improvement, compared to the previous year despite the tough operating environment. Turnover increased by 78 per cent in 2018 to compared with the previous year.
Profit before tax increased by 376 per cent from N41 million reported from the previous year to N195million in 2018.
“The Board and Management will continue to monitor the business environment and make necessary adjustments to sustain the positive growth momentum into the future,” he further mentioned.
According to him, it was paramount for the company to diversify into new markets and transition from a predominant hardware company to software, in line with its strategic imperatives.
Speaking also, the Managing Director, ChamsAccess said last year was an exciting year for ChamsAccess – partly because the changing business and commercial environment created opportunities. “We are unyielding in our drive to develop cost and time-saving technologies to the delight of our Clients and act in an ethical and responsible manner.
“We will continue to increase our array of technologies and ensure that we develop a diversified portfolio that can serve different sectors. “Furthermore, we will take a disciplined approach to capital management, which ensures we maintain a strong balance sheet.”
During his speech, he mentioned that at the second half of the year 2018, new partnerships were sealed, to foster penetration into more sectors.
“Also worthy of note is our partnership with New York based fintech Company, First Access to deliver digitized and automated credit solutions to microlenders, in line with ChamsAccess mission to be the go-to company for technology solutions that make life less complicated.
“Furthermore, partnership with Assa Abloy has ensured that we deliver secure solutions that save costs in the Oil and Gas sector”, he concluded.