Chams Plc has said that favourable government policies will help to boost its activities in the coming years.
According to the company, improved activities will translate into increased profitability and returns on investment for its shareholders.
The Managing Director of the company, Mr. Demola Aladekomo, was quoted as saying this while addressing the company’s shareholders at its annual general meeting Abuja recently.
He said, “One thing that we will promise you is that your company has a brighter future. Paradoxically, new government policies make our technologies very relevant to the future and this is where we believe that we will continue to have the edge over others.
“The future, I can say with all sense of certainty is bright. Though we have had unexpected delays in several projects due to the prevailing operating environment, we have sound strategies to survive the storm. It may have taken longer than expected, but we believe that with all the investments that we have made and the unfolding opportunities, the future of the company our future is certainly bright.”
He said the company was poised to leverage on its cutting-edge and innovative technologies to take full advantage of the Central Bank of Nigeria’s cashless policy, otherwise known as ‘cashlite’ project.
He pointed out that Chams had already started rolling out its mobile payment solution with remarkable success. Similarly, he said it had secured further milestones as a major stakeholder in the electronic and transactional payment industry. It will be recalled that the CBN granted approval-in-principle for mobile payment license in 2010.
He said, “The mobile payment solution characterized by our usual innovativeness, ease of use and cutting edge technology promises to change the face of payment in Nigeria. It must be mentioned that this singular solution is the future of transactional and payment processes with its huge propensity to dramatically yield untold value for our esteemed stakeholders.
“We are primed to roll out in full force with a view to capturing a substantial size of the market.”
The results of the company for the year ended December 31, 2011 showed that turnover increased by 35.8 per cent, from N1.31bn in 2010 to N1.78bn in 2011, while gross profit also rose by 30.8 per cent to N686.79m in 2011 as against N525.02m recorded in 2010.
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Chams hinges performance on govt policies