Shareholders of Chams Holding Company Plc have approved the company’s strategic transformation, which includes a name change to Chams Corporation Plc, the launch of a rights issue and private placement, and a comprehensive corporate restructuring as the company marks its 40th anniversary, setting the stage for its next phase of growth.
Chams recorded impressive financial performance in 2024 despite macroeconomic headwinds, most notably depreciation of the Naira. Revenue surged by 42 percent, from N9.6 billion in 2023 to N14.93 billion in 2024. Operating profit more than tripled from N370 million to N1.2 billion, while Profit After Tax jumped from N20 million to N391 million, a nearly twenty-fold increase.
Speaking after the company’s Annual General Meeting (AGM) held in Lagos over the weekend, Demola Aladekomo, chairman, Chams Holding Company Plc expressed confidence in the company’s strategic direction:
