Addressing the shareholders at the meeting, the chairman of the board of directors, Dr Omobola Johnson, said, “I am delighted to report that our company recorded significant successes during the 2020 financial year despite the challenging operating environment, a fallout of the global COVID-19 pandemic and the resulting weak oil earnings, Naira devaluation and high inflation.”
She noted that the successes recorded by the company in 2020 was an affirmation of the robustness of the group’s business model, which allowed it to quickly adapt to the fast-changing environment, the astute leadership of the company supported by energetic employees using technology to efficiently provide prompt services to clients.
In spite of the challenges faced during the year under review, she said, the group more than doubled its profits by posting a profit after tax of N12.69bn as against N6.01bn achieved in 2019.Total asset base also increased from N118.02bn in 2019 to N176.16bn in 2020, representing a growth of 49.26 per cent, while the shareholders’ fund grew by nine per cent to N47.65bn from N43.7bn in the 2019.All rights reserved.
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