eTranzact shareholders & employees enjoying benefits of sustained profitability and revenue growth

The year 2014 was a good year for eTranzact, with the company generating record revenues, operating profits and cash flows which transformed the company’s accumulated deficit to a retained surplus.

Results from the year were revealed by its MD/CEO Mr Valentine Obi, Chairman of the Board, Mr Felix Ohiwerei and other members of its board of directors at the company’s 11th annual general meeting at the Four points by Sheraton hotel, Lagos on the 23rd of June, 2015.

  

(Pictures from the AGM can be found on the company Facebook page hereàhttp://bit.ly/AGMPictures and on Twitter @eTranzactPLC and videoàhttp://bit.ly/eTranzactAGM).

Gross revenue for the year 2014 was N7.1bn which represents a 51% growth compared to 2013. Operating profit grew from N188.7m in 2013 to N388m in 2014 which represents a 101% annual growth. Profit before tax(PBT) grew by 145% from 2013 performance while Profit after tax(PAT) grew by 112% compared to 2013 performance. 

The company’s sustained surplus allowed its board of directors to approve the payment of dividends to shareholders for the period.

The shareholders of the company were well represented and excited about the approved dividend from the board of directors and commended the performance in the period inspite of the realities with the country in 2014.

In attendance of the AGM were the executive and non-executive members of the board led by the Chairman, Mr Felix Ohiwerei, OFR; Mr Valentine Obi, MD/CEO; Mr Wole Abegunde; Mr Bayo Adeyemo; Mr Rasheed Mumuni; Mr Tony Egbuna; Mr Sullivan Akala; Executive Director, Business Development; Mr Ike Eze, Executive Director, Strategy and Corporate Development and Mr Benson Akpati. 

PocketMoni prepaid Mastercards were issued to all shareholders, and with their unanimous approval at the AGM, their dividend payout was made to the cards

Speaking about the results, MD/CEO, eTranzact International Plc, Mr. Valentine Obi said:

“As a company, we have been encouraged by our performance in the period under review. We have experienced consistent growth in revenue and profitability over the past ten years with transaction activity value, volumes and partnerships also experiencing significant growth in the last three years. Key to our growth has been setting key performance indexes around user experience, platform stability, employee development and technology enhancement, and we plan to continue to do this.

“It is a new level for us indeed and this shows that the strategies we have in place are working and it will continue to work. Going forward, Nigerians will be seeing new products that eTranzact will be introducing to help the industry grow and increase our profitability as well as for the benefit for our shareholders and other partners.” 

From L-R- Members of eTranzact International PLC Board: Mr Sullivan Akala, ED, Business development, eTranzact; Mr Wole Abegunde, Omowunmi Adedurotimi, Company Secretary; Mr Felix Ohiwerei, Chairman; Mr Valentine Obi, MD/CEO; Mr Tony Egbuna; Mr Victor Etuokwu; Mr Rasheed Mumuni and Mr Ike Eze, ED, Strategy and Corporate Development