Chams Group has introduced a more improved and innovative products and services that will surpass the expectations of its customers in both public and private sector.
The company disclosed this in a review of the company’s group accounts for the year ended December 31, 2017 signed by its executive director, Mrs Mayowa Olaniyan and made available to LEADERSHIP yesterday.
The review averred that the board of directors and management shows an improvement in financial performance when compared to the corresponding year 2016.
It said: “The company had a revenue of N1.96b in 2017 as against N1.48b in 2016 which is 32% increase in revenue in 2017, the gross profit increased by 7% to N743m in 2017 as against N693m in 2016.
“Loss for the year after taxation reduced by 17% to (N1.3b) in 2017 as against a loss of (N1.5b) recorded in 2016.”
It noted that the loss was as a result of further impairment charges made on some of its investments in compliance with the International Financial Reporting Standard (IFRS) on investment.
“These were investments made in our subsidiaries for a seamless execution of the concession on the National Identity Card project which, regrettably, became a subject of mediation/arbitration.
“This products are technology driven business intelligent solutions that will bring speed, convenience and security to transactions across a broad spectrum of our national economy,” it said.
The review also noted that the company was “delighted to inform all stakeholders that the company’s products is gaining wider acceptance in the market and we will continue to see improvements in the overall outlook for business in the short-to-medium term.”
It said that the company has introduced digital applications that will improve customers’ conveniences.
It added that they believe that “these are the keys to boosting our revenue, profit and returns on investment.”