Financial report: eTranzact grows PAT by 73%

Premier e-payments solution provider, eTranzact International PLC consolidated its dominance in key sectors of the industry in 2015, actively driving financial inclusion while meeting its key goal of delivering sustainable returns to shareholders.

This was disclosed at the company’s 12th annual general meeting held in Lagos recently.

Gross revenue for the year 2015 was N8.7billion representing a 22 per cent growth compared to 2014. Operating profit grew from N380m in 2014 to N851m in 2015 representing a 124 per cent annual growth. Profit before tax(PBT) grew by 76 per cent from 2014 performance while Profit after tax (PAT) grew by 73 per cent compared to 2014’s performance.

At the event, Founder and CEO,eTranzact International Plc, Mr. Valentine Obi said, “We have experienced consistent growth in revenue and profitability over the last three years.  Key to our growth has been a renewed product and customer focus setting key performance indexes around user experience, platform stability and technology development, and we plan to continue doing this.

Speaking on the company’s performance for the period, Mr Felix Ohiwerei, who was re-elected as chairman of the Board, said, “As a company, we pride ourselves as one of the pioneer organizations in the business of electronic and mobile payment technology in Africa, and as such, we continue to hold ourselves to very high professional, ethical, technical and operating standards. We remained resilient as we improved our business performance whilst managing the impact of various macroeconomic challenges.

The company’s performance in 2015 increased its retained earnings and allowed the board of directors to approve the payment of a 10 kobo dividend to shareholders for the period.