C & I Leasing PLC whose market cap has increased from N1 billion in March 2017 to N4.6 billion today, has concluded the buyout of additional 27.5 percent minority stake in C&I Petrotech Marine Limited making it a fully owned subsidiary of C & I Leasing Plc, positioning its shareholders for more profit in 2018.
Andrew Otike-Odibi managing director of C&I leasing plc said the buyout will further the company’s drive to restructure and re-position its marine business for enhanced productivity. “The firm’s journey into marine sector as a service provider for the oil and gas sector actually started through CPML joint venture in 2010 and has over the years culminated in the ownership of over 20 vessels,” Otike-Odibi said.
C & I Leasing Plc has been on a positive growth trajectory since 2015 as BusinessDay analysis showed the firm recorded a 26 percent increase in revenue to N21.4 billion in 2017 from N17 billion in 2016 while Profit after Tax increased by 19 percent to N1.1 Billion in 2017 from N920 million in 2016.
The firm has a strong EBITDA margin of 59.25 percent in 2017 compared to 37.70 in 2016.
Return on Assets (ROA) which measures the efficiency of the firms and in its ability to generate assets from revenue recorded an increase from 0.53 percent in 2015 to 2.59 percent in 2016, while in 2017 it stood at 2.56 percent.
Further investigation showed Net margin, which can give a more accurate view of how profitable a business is than its cash flow rose from 0.96 percent in 2015 to 4.99 percent in 2017.
Source: Business Day