• Tuesday, May 28, 2024
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Courteville Business Solutions declares N179m pre-tax profit

Courteville Business Solutions

Nigeria’s foremost e-business solutions and advisory company, Courteville Business Solutions Plc, has announced a Profit Before Tax (PTB) of N179.8million in 2018 against N52.01 in 2017.

This profit, according to the company, is coming on the back of strong cost and financial control measures implemented by the management team.

Afam Edozie, chairman, Courteville Business Solutions in his speech at the 14th annual general meeting of the company in Lagos said the Board of Directors based on the result recorded and the current economic realities, will however not recommend the payment of dividend to the shareholders.

Edozie said the ICT industry continues to be a fast-growing sector and witnessed growth of 9.7 percent, which helped in contributing to the two per cent growth in the non-oil sector of the national gross domestic product (GDP), year-on-year, according to the National Bureau of Statistics (NBS).

The telecoms and information service continues to be the biggest contributor to growth.

He further pledged that the company will continue with its business expansion drive especially for its flagship product, AutoRegT; within the local boundaries, while assuring that the company will also continue to grow the business internationally especially within the African and Caribbean Markets.

Edozie said the 2020 financial inclusion target of the Federal Government has seen the growth of Mobile Money Operators and the disruption of the banking industry; but the sector requires close watching going into the 2020 deadline for an 80 per cent financial inclusion target for the Nigerian citizens.

On the outlook for 2019, the chairman opines that many forecasters expect GDP growth to regain 3.01 per cent level in 2019, contingent on a number of critical conditions being met.

Sunny Nwosu, coordinator, Independent Shareholders Association of Nigeria (ISAN) commended the performance of Courteville Business Solutions Plc, management for their prudent handling of the company affairs especially with the current economic realities.

Nwosu called on the board and management of the company explore more lucrative ways to improve return on investment for shareholders.