Chams reports NGN78.5 million loss in Half year


Chams plc in its financial report for half of the year is reporting NGN78.5 million net loss in contrast to NGN160.3 profit million in the same period 2016.

The company said it ended the quarter with NGN853.1 million revenue in contrast to NGN683.1 million in the year before and costs of sales was NGN452.2 million against NGN289.5 million in the fiscal year 2016.

Chams plc recorded an increased gross profit to NGN400.8 million compared to NGN393.9 million in the year before while operating loss rose to NGN75.1 million against NGN688 thousand in the previous year,

Chams plc’s recorded lower assets in this period to NGN6.4 billion in contrast to NGN9.9 billion in the financial year 2016 while total liabilities was NGN4.7 billion against NGN6.4 billion in the year before.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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