Chams reports N944.88m annual loss amid COVID-19

Chams Plc has posted a loss after tax of N944.88 million for the 2020 financial year, compared with a profit after tax of N322.62 million in the previous year.

The company reported a loss before tax of N913.13 million, compared with a profit before tax of N358.86 million in 2019, according to its audited financial statements.

The revenue of the identity management and identity transaction systems provider fell to N2.11 billion in 2020 amid the impact of the COVID-19 pandemic from N3.29 billion a year earlier.