Chams to Consolidate Cost-optimisation Measures to Sustain Profits

By Aduragbemi Omiyale

The Group Managing Director of Chams HoldCo Plc, Mrs Mayowa Olaniyan, has said the company would sustain efforts to improve profits to deliver value to shareholders.

She said this on Thursday at the organisation’s Facts Behind the Figures (FBF) at the Nigerian Exchange (NGX) Limited in Lagos.

Whilst describing the firm’s half-year results as impressive and improved, she said that the company plans to finish the financial year on a strong note with three-digit year-on-year growth from expanded business activities and emerging opportunities within the group.

On the company’s outlook, Mrs Olaniyan revealed that Chams HoldCo aims to consolidate cost-optimisation measures within the group and cross-selling synergies to sustain its bottom-line performance.

“We are poised for innovation that will revolutionise the payment and technology industry with fast, secure and reliable platforms. We have plans to expand product lines through collaborations and partnerships.

“The company will seek support from stockbrokers, NGX and advisors in assessing additional capital in tranches via a rights issue, which was endorsed by shareholders last year. This capital will help to reposition the company to achieve its objectives,” she stated.

Also speaking, the Chairman of Chams HoldCo, Mr Demola Aladekomo, noted that the firm has pivoted from a business-to-government model to a more sustainable direct-to-consumer model.

On his part, the Divisional Head of Capital Markets at NGX, Mr Jude Chiemeka, commended the management for leveraging the FBF platform of the exchange to engage the market on its performance and strategy, urging continued transparency.

“We are delighted that Chams HoldCo has chosen to use this forum to communicate its financial performance, strategic and operational developments to the investment community,” he said.

“Given that accurate, accessible, and timely information is essential to stimulate market activity, your continued interaction with investors and the capital market ecosystem is important to ensure a reasonable flow of relevant information to the market.

“We anticipate that today’s interaction will be fruitful, encourage transparency, price discovery, and positively impact the overall performance of your stocks,” Mr Chiemeka added.