C&I Leasing targets additional capital through rights issue, public offer

C&I Leasing plc, a foremost brand for finance leases, and other ancillary services in Nigeria has as part of its future plans, the of raising additional capital through rights issue/public offer, bond, structured lease note for local investors, and offshore funding (through largely export credit agencies).
With a current market capitalisation base in excess of N12bn, the company takes pride in its track record of exceptional and qualitative service delivery.

In his presentation at the “C&I Leasing plc Investor Forum” held Tuesday in Lagos, Alex Mbakogu, chief finance officer, C&I Leasing plc, disclosed the company’s other future plans which include: Merger with C&I Motors; increase in marine fleet – five new vessels for delivery from third-quarter (Q3) to fourth-quarter (Q4) 2015 for NLNG, addition of a 60million anchor handling tug supply (AHTS) vessel for Shell; expansion of fleet management; drastic cost reduction in operations via fuel efficiency for clients and company; and strategic alliance with foreign partners.”

Currently, the C & I Leasing plc brand presence can be felt in major sectors in the Nigerian economy, providing specialised services, in marine, telecommunications, oil and gas, equipment rentals, manpower outsourcing and transportation.

While responding to questions, Emeka Ndu, managing director, C & I Leasing plc, noted that the group supports fleet services and provides vessels for top organisations such as NLNG, ExxonMobil, and Chevron to support their offshore businesses.

“In manpower, we have about 4,000 personnel who work for large companies like MTN, Diamond Bank to help support their operations,” he added.
Earlier in his speech, Ndu said “Our brand presence can be felt in major sectors in the Nigerian economy, providing specialised services.”

The C & I Leasing plc group abridged income statement shows remarkable increase in gross earnings at N13.883bn in 2014 from N12.299bn in 2013. It was N11.760bn in 2012. Profit Before Tax (PBT) rose to N411.80m in 2014 from N304.52m in 2013; and N180.62m in 2012. Profit After Tax (PAT) stood at N317.49m in 2014 from N161.59m in 2013.