eTranzact International Plc has announced a remarkable pre-tax profit of N5 billion for the year ended December 31, 2024, marking a 53.2% year-on-year growth. This impressive performance highlights the company's accelerating profitability and strategic expansion in the fintech sector.
Key Highlights
The company's financial performance reveals several key highlights:
- Pre-Tax Profit: eTranzact's pre-tax profit grew by 53.2% to N5 billion, demonstrating the company's strengthened operational efficiency and improved profitability.
- Revenue Growth: The company's full-year revenue surged to N29.8 billion, reflecting a significant increase in its core operations.
- Earnings Per Share: Shareholders were rewarded with a 54.2% rise in earnings per share (EPS), which grew from N0.24 to N0.37.
- Dividend Declaration: The company declared a final dividend of 12.5 kobo per 50 kobo share, payable to shareholders whose names appear on the register of members by the qualifying date.
Strategic Expansion
eTranzact's strong financial performance is driven by its strategic expansion in the fintech sector:
- Service Footprint: The company has expanded its service footprint, onboarding more financial institutions and fintech partners.
- Ecosystem Influence: eTranzact has solidified its ecosystem influence, positioning itself as a leading force in Nigeria's fintech sector.
- SME Growth: The company is extending its fintech capabilities to support SME growth and scalability, offering tailored solutions to meet their unique financial needs.
Future Prospects
eTranzact's future prospects look promising, with the company:
- Deepening Commitment: Deepening its commitment to deliver advanced and reliable financial technology infrastructure to the financial services sector and government partners.
- Direct-to-Consumer Play: Repositioning its PocketMoni brand as a leading digital bank for Nigerians, aiming to tap into the growing demand for accessible and seamless financial services.
Overall, eTranzact's stellar performance in 2024 demonstrates its commitment to delivering strong returns to shareholders and its strategic expansion in the fintech sector.
Subject: e-Tranzact International Plc Reports Q3 2017 Loss Despite Revenue Growth
Technology firm, e-Tranzact International Plc, has announced a surprising third-quarter loss before tax of N6.08 million for the nine-month period ended September 30, 2017. This decline in profitability is in stark contrast to the company's performance in the same period of 2016, when it reported a profit before tax of N178.656 million.
Key Highlights:
- Q3 2017 loss before tax of N6.08 million, down from a profit before tax of N178.656 million in Q3 2016
- Revenue growth to N2.9 billion for Q3 2017, up from N2.5 billion in Q3 2016
Despite the decline in profitability, e-Tranzact International Plc's revenue continued to grow, rising by 16% to N2.9 billion in the third quarter of 2017. This revenue growth suggests that the company's business fundamentals remain strong, and the loss may be attributed to other factors such as increased operating expenses or one-time charges.
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