In a bid to improve macroeconomic stability, ChamsAccess Limited, a subsidiary of Chams Plc, has assured its shareholders of improved returns on investment in the 2017 financial year.
Speaking recently during the company’s Annual General Meeting (AGM), Chairman, ChamsAccess Limited, Dr. Evans Woherem, said the significant decline in economic activities for a better part of 2016 affected the company moderately impairing its performance and profitability, adding that 2017 will see a much more improved profit making.
“With improved macroeconomic stability, there has been a demonstrable turnaround in business and ChamsAccess is on the path of profitability in the 2017 accounting year. That means when we come for the next AGM, we would now see a greatly improved company of ours,” Woherem remarked.
On her part, Managing Director, ChamsAccess Limited, Mrs. Funke AlomoOluwa, stated that the company’s strong market positioning and industry leadership accounts for its resilience despite the external and domestic economic headwinds, which unsettled the Nigerian economy in 2016 as the company grew its total equity to N1,081,338 billion in 2016, as against N960,475 million for the year 2015.
“After a resilient 2016 financial year, ChamsAccess is on growth trajectory and has returned to profitability in 2017 as evident in our first and second quarter results respectively. Supported by a strong board of directors, the company is breaking new grounds posting growth in the telecommunications and microfinance sectors, hence, further strengthening our product base,” she said.
She cited boosting operational profit, product diversification, market share growth and improved return to shareholders as the company’s focus in the 2017 financial year.
ChamsAccess Limited is a leading access and technology solutions company with a vision to be the go-to company for solutions in the markets it serves and the company’s core focus is on the sale, deployment and support of automated solutions in the area of instant card issuance, biometric data capture solutions, customer life cycle management solutions, access control and time and attendance solutions to serve both financial and non-financial needs of the society.