Q3 2024 OVERVIEW
Revenue and profitability growth remained consistent.
Despite the global and national economic challenges. Chams Holdco Plc continued raking in increased revenue streams, leading to an improvement in its profitability. The improved revenue from our service offerings is backed up by optimizing operation efficiency and strategic partnerships for business expansion. The entities in the Group continued its superior fintech service offerings to majorly financial institutions with a robust future outlook. Cardcentre Nigeria Limited and ChamsAccess Ltd continued their foray into the fintech ecosystem, breaking new ground while Chamsswitch powers payment gateway transactions for numerous newclients.
Q3 Financial Performance
Despite several economic downsides, the Group surpassed its profitability in Q3 2024 compared to the same period in 2023, as presented below:
With a 491% increase in PBT compared to Q3 2023, Chams Holdco Plc is on the move to erase its sustained losses en route to positive retained earnings at the end ofthe fiscal year 2024. EPS also surged to a 640% increase, occasioned by a 75% Y-o-Y increase in revenue generation, an increasing customer base, and improved revenue per employee.
Q4 Outlook – Sustaining partnerships and innovativediversification to stabilize earnings.
The partnerships that the entities in the Group have developed over the last three quarters of the fiscal year have started yielding positive results. Because of this, the group is not resting on its oars; innovative solutions are being developed to enable its sustenance.
Switching our way to success
Chamsswitch continued resuscitating novel products that easily identified hiccups for payment remittance among entities in the logistics value chain. The company has developed payment gateway platforms that enable payment remittance between companies in the logistics business serving the restaurant value chain, making delays in funds transfer easier than before, creating a value that has the potential to promote sustainable business partnering between fast food sellers and their delivery partners.
Cross-border presence ignites the potential for foreign currency earnings.
ChamsAccess continued to expand its limitless earnings opportunities by establishing a presence in some African countries. With companies in Nigeria needing to attract an inflow of foreign exchange to ease the depreciation of the Naira locally, the company has the potential to start earning in $, thereby opening opportunities for real profits as well as other income from favorable exchange rate transactions
Expected revenue boost
The Group is estimated to end the fiscal year with revenue of N18bn, doubling the year ending 31 December 2023. This feat is not mean, given that it occurs amidst previous Y-o-Y average revenue growth of 45%. The activities of CardCentre and ChamsAccess Ltd are capable of actualizing this projection. With this, shareholders of the Group should begin to breathe an air of respite given the expected appreciation in their investment.
Our investor relations contact
For more information regarding Chams Holding Company Plc's financial prospects and investor relationships, please contact investorrelations@chams.com, visit our investor relations section at https://www.chamsholdco.com/investor-relations/financial-reports or call (09053936425).
