Chams reports N64.04m loss, revenue down 34%

Chams Plc has posted a loss before tax of N64.04 million for the 2020 financial year, compared to a profit of N358.86 million in the previous year.

The company’s unaudited financial statements showed that it recorded a loss after tax of N64.08 million as against a profit of N322.62 million in 2019.

The revenue of the identity management and identity transaction systems provider plunged by 34.35 percent year-on-year to N2.16 billion from N3.29 billion.