Lagos: eTranzact International Plc reports that its profit after tax increased by 54.12 per cent, reaching N3.39 billion for the 2024 financial year.
The firm disclosed this in a statement issued on Thursday during its 21st Annual General Meeting held in Lagos.
Chairman of the Board, Mr Wole Abegunde, said the performance signalled a turnaround and reflected sustained efforts across both management and operational areas.
Recognising this progress and the positive retained earnings, the board proposed a dividend of 12.50 kobo per share, reaffirming its commitment to shareholder value.
Abegunde stated that the company recorded a profit of N4.9 billion before tax and N3.4 billion after tax, surpassing its past performance.
He attributed the growth to strong revenue generation and strict cost-efficiency measures across operations.
“The board, management, and staff have shown commendable commitment to delivering such performance,” Abegunde said.
He added that the company remained focused on improving product offerings, maintaining competitive pricing, and reducing service delivery costs.
Managing Director, Mr Olaniyi Toluwalope, said gross profit increased by 36.52 per cent, from N8.32 billion in 2023 to N11.36 billion in 2024.
