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Press Release
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August 2008 Newsletter (Download)
C & I LEASING PLC INCREASES PROFIT BY 180%
C & I Leasing Plc has grown its profit after tax
by over 180 percent in 2008 financial year. During the year
under review, the company posted a turnover of N2.4 billion,
up from N1.6 billion it posted in 2007.
The company whose businesses include Finance and Operating
Leases, Outsourcing, Car Sales and Distribution and other
ancillary logistics support services, recorded a profit
after tax of N375 million in 2008 as against the N134
million recorded in 2007.
Speaking at the 17th AGM of the company held recently in
Lagos, the Chairman of the company Air Vice Marshal
Abdullahi Bello (rtd), attributed the rise in asset and
increase in revenue to the impact of consolidation of the
account of Leaseafric, its subsidiary in Ghana, and the
significant earnings from leasing, outsourcing, and rental
services among others that constitute some of the strategies
that improve the revenue.
Meanwhile, shareholders of the company had approved a
dividend of N96 million that translated to six kobo per
ordinary share of fifty kobo, having approved a similar
amount earlier in the year.
C & I GROWS PROFIT AFTER TAX BY 53% IN 2ND QUARTER 2008
C & I has within the second quarter of this year which ended
July 31, increased its profit after tax by 53 percent from
N177 million in 2007 to N270 million in 2008.
Another impressive result recorded within the period under
review was 100 percent turnover from N1.1 billion in 2007 to
N2.2 billion this year.
An analysis of the group presented at a forum held in Lagos,
the Finance Controller Mr. Ayo Taire, showed that C & I
Motors recorded 19 percent, Leasafric; seven, WAP; one
percent, while C & I Leasing recorded 73 percent of the
turnover.
According to the Group MD of C & I Leasing, the company
outlook shows increasing awareness of its Suzuki brand which
is translating into continuous growth in sales, while it has
received a licence from the state government to operate a
taxi service in the state which has given birth to another
subsidiary of the company known as Citrans Global; operators
of Red Cab.
SUZUKI GETS SON’S RATING
The Standard Organization of Nigeria recently conducted an
examination of facilities at the premises of C & I Motors,
Distributors of Suzuki auto brand in Nigeria, to enable it
conclude certification of its product.
Head of the SON team, Engr. Williams Okpeh expressed
satisfaction at the company’s facilities on ground after the
audit exercise performed by some technical staff of the
regulatory agency covering areas such as aftersales,
technical and manpower development.
He said among all other companies already inspected, C & I
Motors offers the best sales capabilities with most
qualified technical staff. “They have the most modern and
most sophisticated diagnostic equipment” he adds.
Receiving the team, the Managing Director of C & I motors,
Mr. Godfrey Ugwuegbu said that Suzuki SX4 model had recorded
a major breakthrough in performance by running 30,000 kms in
two months, a performance other cars do in two years.
He also informed SON that the Jimny model was used by Newton
Jibunoh to cross the Sahara Desert to Europe.
C & I MOTORS FORMALLY INTRODUCES SUZUKI ALTO
C & I Motors, authorized distributors of Suzuki cars in
Nigeria has launched the new Suzuki Alto, a mini vehicle
with best in class features.
Following this and in a bid to empower the masses, C & I
Motors is partnering with MCB Micro Finance Bank to provide
affordable cars to taxi operators in Lagos State.
The partnership tagged; taxi initiative project, is coming
on the heels of the official launch of the new Suzuki Alto
which is the ideal car for taxi operations in Lagos state
given the fact that it is fuel efficient, and others who
want to ride on a budget car with state of the art features.
The Alto is a super compact car that has won great
popularity having stood the test of time as a result of its
rugged nature.
C&I Motors restate commitment to customer satisfaction as
Suzuki sx4 covers 30,000 km in 3 months.
C&I Motors Limited, the franchise owners of Suzuki Motors in
Nigeria, has reaffirmed its commitment to satisfying and
making its customers the focus of their business. Mr.
Godfrey Ugwuegbu, managing director, C&I Motors Limited,
said this at a media parley in Lagos recently, to showcase
the SX4 brand of Suzuki that travelled across Nigeria,
covering a distance of more than 30,000 kilometers in three
months, which is the average distance a two-year old car
will cover.
Ugwuegbu explained that “We want to ensure that we sell
service and let service sell our cars. And to make sure that
we are able to do this, we had to put to test one of our
very rugged vehicles, the SX4, which is one vehicle that we
know we have sold in units of hundreds so far. We decided
with the cooperation of our current technical partners, to
put SX4 to a 30,000 kilometers test.”
“First of all we had an issue with our technical partners
because of the fuel quality in Nigeria, which makes it
difficult to trust any car. We are not quite sure what they
expected of these cars because we are very sensitive and
responsive to the yearnings of our customers. We needed to
understand that these cars would be able to give services to
the customers as they go. The 30,000 kilometers was
initiated to ensure that we knew ahead of time the problems
to expect from each of these vehicles we put to test.”
He said the company has demonstrated its customer
friendliness by creating kiddies corner in its showroom. He
added that Suzuki is not new in the business terrain as its
generic name signifies ruggedness. “As a company, they are
conservative in building compact cars. There is no company
that can build a compact car better than Suzuki.’'
Ugwuegbu said C&I have surpassed the target of its business
plan in Nigeria more than six months after opening shop in
the country hence the need of the company to consider
engaging the services of service providers to distribute its
vehicles.
Mr. Joel Emerole, workshop manager, C&I Motors Limited,
expressed that the principal objective of the 30,000
kilometers test from the perspective of its technical
partners was to establish the reliability and
maintainability of the SX4 brand, so as not to smear the
image of Suzuki. Emerole said from the test drive across
Nigeria, where the drivers drove the SX4 brand on rough
Nigerian roads from Lagos to Maiduguri in Borno State and
across the South Eastern States and the Niger Delta region.
He stated that the test has proven Suzuki cars to be well
engineered, managed and properly designed.
C & I TO GO PUBLIC SOON WITH ITS SHARES
C & I Leasing Plc has restated its determination to make the
next financial year a rewarding experience for all its
stakeholders. Speaking at the Extra-Ordinary General meeting
of the company held in Lagos on the 29th of April, the
Chairman, Air- Vice Marshal Abdullahi Bello said although
the company has performed reasonably well in 2007 financial
year , there were still more rewarding grounds that needed
to be ploughed.
The Company secured an overwhelming shareholders approval to
increase its share capital, by unanimously supporting the
board's decision to increase the company's shares from
N1,000,000,000 to N1,500,000,000 by the creation of
additional 1,000,000,000 ordinary shares of 50k each, each
share ranking pari pasu in all respects with the existing
shares of the company.
The MD, Mr. Emeka Ndu who confirmed that the new funds which
would be raised by way of public offer and rights issue
latest by July, would be injected into new business
initiatives.
C & I MOTORS: LAUNCHES SUZUKI CARS IN NIGERIA
C & I Motors, a subsidiary of C & I Leasing Plc recently
unveiled Suzuki brand of cars in Lagos at its office
premises/showroom/workshop, plot
334/336 Agege Motor road.
The event which was held on April 23rd, was chaired by the
head of the desert Warrior; Chief Newton Jibunoh who
attested to the ruggedness and durability of Suzuki cars and
confirmed that Suzuki is a superior product of Japanese
technology and thus the reliable choice for anydesert
expedition. Dignitaries who graced the occasion came from
all works of life.
Speaking, the MD of C & I Motors, Mr. Godfrey Ugwuegbu said
the event was a threefold event; of the official unveiling
of Suzuki cars in Nigeria, opening of C & I Motors Ltd and a
warm welcome to the desert warriors from their third
expedition to the Sahara desert.
He reiterates the fact that SERVICE IS FIRST at all times
for C & I Motors, encouraging the public to think Suzuki
when they think of reliability and dependability in SUVs.
As a launch promo, a special launch price package for the
sleek Grand Vitara and the rugged Jimny was released on
April 24th a day after the launch by C & I Motors.
The Vitara which use to sell for N4.2m has been slashed to
N3.3m while the Jimny that use to be sold for N2.8m now
sells for N2.349m. Leasing option is available as stock is
limited.
Hurry now for the drive of your life with Suzuki. Drive up
your taste as C & I Motors have driven down the prices.
Tel: 07000suzuki
FINANCE LEASE: LAUNCHES LEAP PROMO 2008
The Finance Lease unit of C & I Leasing Plc has come out
with this year's Laptop special "price Slash promo" tagged:
Laptop Easy Acquisition Promo (LEAP) PRICE SLASH aimed at
encouraging the easy acquisition of Laptops in a convenient
and an easi- lease- it manner.
Working in collaboration with All Technology Limited, the
Finance Lease Unit of C & I Leasing Plc has in its kitty
superior quality laptops which includes: HP which use to
sell for N147,000.00 now selling for N137,000.00 , while HP
Pavilion that was sold for N210,000.00 is now N195,000.00,
Toshiba laptop which is a new entrant into LEAP has its
price fixed for N185,000.00, with leasing options for.
Subscribers to this promo stand to benefit the following: #1
purchase option with leasing facility, ,Purchase 10 and
above and enjoy 13.5%
interest rate instead of 17%, buy 25 laptops, get one free,
ready internet and Nationwide delivery.
Hurry now, you can't get this offer anywhere, it's the best.
Tel: 07004Leasing
C & I OUTSOURCING: COUNTED AS ONE OF NIGERIA'S
LEADING RECRUITMENT AGENCIES
C & I Outsourcing, one of C & I Leasing Plc units, has made
the list of Leading recruitment agencies in Nigeria as
recently compiled by the publishers of Financial Standard
Newspaper.
C & I Leasing Plc diversified into Outsourcing and human
resource consultancy to provide support services it is best
known for, to its
ever growing clientele. Primarily, C & I Outsourcing
provides human resource and personnel management functions
to key players in the Oil and Oil services industry,
Telecommunication and Manufacturing concerns etc. With well
qualified staff, the Outsourcing unit is committed to
providing corporate and business solutions to its clients
,customizing its services and terms to suit each client's
specific needs for greater efficiency and ultimate
effectiveness.
The unit's unique selling point is drown from its pedigree
and experience of having managed over 2,400 people for its
various clients in the last seven years.
C & I Outsourcing provide other support services like
security supervision, chauffeur training and crew
management.
The unit is committed to adding value to the performance of
its clients as it says "call on us today, let's shoulder
your burden- OUTSOURCE IT.
HERTZ: STILL #1 CHOICE IN CAR RENTALS
Hertz still remains the #1 choice in the car rental business
amidst competitors given their over the edge product
packaging for its esteemed clients. More than ten years ago,
Hertz set the Standard of excellence in the car rental
business and have remained on top since then. Travellers
around the globe still prefer Hertz. C & I Leasing Plc is
Hertz Franchisee in Nigeria. The services provided by Hertz
Nigeria include: Chauffeur Drive, Fleet Management,
Protocol, staff Bus scheme, Vehicle replacement scheme,
Escort Services, and recently Hertz Haul-a mini Haulage
Scheme to convey luggage from the airport to clients'
destination and Hertz Travel-packaged to convey tourists for
all of their trips within the country.
Hertz even offers to take off the hassle of renting vehicles
for offsite meetings ,conferences, tours as well as
weddings.
Tel: 070000Hertz
C & I LEASING PLC, SET TO BOOST
BUSINESS ACTIVITIES THIS YEAR
C & I Leasing Plc has put together structures and strategies
to boost
its oil support services to the Maritime sector.
At a press conference held recently in Lagos, The Managing
Director of C
& I Leasing, Mr. Emeka Ndu, said facilities needed for the
smooth
operation and quality service delivery in that sector has
been put in
place.
The MD stated that the Company had also commenced investment
in an oil
field, on a joint venture basis, noting that this will
impact positively
on its service deliveries to Nigerians this Year.
Mr. Ndu added that plans have been concluded to upgrade its
information
technology infrastructure to enable it commence e-commerce
transactions
and announced that the company owns 59% shares of Leasafric
the second
largest leasing company in Ghana.
He concluded that operations will be restructured along
product lines
this year to make each business unit a "stand alone" entity
and extend
to other ECOWAS countries within the shortest possible time.
HERTZ CAR RENTALS, RE-ENGINES FOR EXCELLENT SERVICE DELIVERY
The car rental unit of C & I Leasing Plc; Hertz Nigeria, has
expanded
its rental car business with the inclusion of new products
aimed at
maintaining its position as the number one choice for
travellers around
the globe.
Hertz car rentals expanded its Vehicle Replacement Scheme to
accommodate
individuals, corporate bodies and schools, other schemes
include Staff
Bus, Protocol, Fleet Management and Escort Services.
According to its country manager Mrs. Chichi Chike-Cole,
Hertz is
expanding its scope of excellent service delivery to include
Hertz Haul
which is a mini haulage scheme that will convey luggage from
the airport
to chosen destinations of clients on an affordable fee.
Mrs. Chike-Cole also said , to cater for tourists coming into
the
country, the unit has what it calls Hertz Travel; a package
to convey
tourists, holiday and vacation makers to tourist sites and
all trips
within the country.
She concludes that Hertz Car Rentals is the provider to be
with this
year.
VINCENT OGBOKEMA EMERGES WINNER OF C & I LEASING PLC" LEASE
TO WIN
PROMO "DRAW
The "Lease to win promo" of the Finance lease unit of C & I
Leasing Plc
which started October 1st last year came to an end on
January 31st with
a raffle draw and had former Justice of Lagos state; Justice
Ebitola
Sotiminu as special guest.
The star prize which was a brand new Suzuki Swift was won by
one Vincent
Ogbokema of Shell Petroleum, Warri.
Managing Director and chief executive of Diamond Bank Plc,
Emeka Onwuka
and two others won various prices of third, second, and
fourth prizes
which include; an Ignis gas cooker Honda Leman generator and
a
television set respectively.
Speaking, General Manager Financial Services Collins David-Ikpe,
explained that leasing is a dependable way of getting what
you cannot
readily buy with cash and encouraged people to imbibe the
culture of
leasing.
Maureen Ogbonna, Manager Finance lease said the promo will
now be
seasonal where there will be Easter, Back to School and Xmas
promos for
instance to afford different categories of people the
opportunity to
participate.
C & I MOTORS LTD, TIES UP WITH NEWTON JIBUNOH IN THE FIGHT
AGAINST
DESRTIFICATION
The fight against desertification has received a big boost
from C & I
Motors Ltd, the distributors of Suzuki cars in Nigeria as
C&I Motors
agreed to co-sponsor Dr. Newton Jibunoh, the former Managing
Director of
Costain (WA) plc on his third expedition across the Sahara
desert. The
trip is primarily to raise awareness about the dangers from
desertification. After careful study, Dr Jibunoh chose the
Suzuki as
being the most suitable car for the expeditions. In 2002, he
made a solo
trip across the Sahara in a Suzuki jeep. This time around,
he is making
the trip in a convoy of three Suzuki jeeps.
Speaking at a meeting of the mission organizers, the
managing
director of C &I Motors, MR GODFREY UGWUEGBU expressed
delight at
the ruggedness of Suzuki vehicles that qualified it as the
preferred
vehicle for this feat. He noted that Suzuki vehicles are
functional cars
that serve specific purposes at most auspicious times. He
thanked the
head of the mission Dr Newton Jibunoh for appointing him as
a member of
the mission committee
He affirmed the willingness of C & I motors the Suzuki
distributors,
to support the expedition by providing spare parts and other
logistics
facilities along the route of the expedition.
He noted that Suzuki cars are compact, rugged and durable.
Stressing
that they are the only four wheel driven cars that can make
it
successfully across the desert and therefore should be seen
as the most
suitable SUV's for the Nigerian rugged terrain.
He further stated, that the beauty of an SUV does not lie in
the
excessive power of the engine nor flamboyance, but in its
flexibility,
ruggedness and ability to get out of trouble.
C& I MOTORS SHOWCASES SUZUKI MODELS AT THE PALMS.
C& I Motors Ltd, a subsidiary of C & I Leasing Plc, has
again
demonstrated its readiness to capture a sizeable chunk of
the rapidly
growing Nigerian new car market by showcasing five (5)
Suzuki models at
the Ultra modern Palms shopping mall in Lekki, Lagos last
weekend.
The models displayed include the Grand Vitara, SX 4 Hatch
Back and
Sedan, Jimny and Swift according to the MD Godfrey Ugwuebgu.
Ugwuebgu said this was sequel to its recent pre -launch
activities where
C& I Motors; Authorized distributor of SUZUKI cars in
Nigeria, held a
Suzuki Rendezvous; where current owners of Suzuki vehicles
offered
candid testimonies of experiences with their Suzuki cars.
The testimonies are pointers to the Reliability,
Dependability and
Durability of the Suzuki brand of Japanese auto technology.
The showcase of Suzuki cars at the Palms, is one of the
build-ups to the
Launch proper expected to come up late march or first week
of April.
Backed by its parent organization, the major leasing
industry giant in
Nigeria, C& I Leasing, C& I motors has also confirmed its
willingness
for customers to have these cars by providing good leasing
alternatives
for the easy procurement of its cars.
C & I OUTSOURCING; COMMITTED TO PROMPT AND EFFICIENT SERVICE
DELIVERY
C & I Outsourcing, a unit of C & I Leasing PLC, says it is
taking the
concept of customer service and customer satisfaction to a
new level
this year.
Henceforth, the customer would be the focus of their service
delivery
at all times.
In line with this, it has set up a prompt response mechanism
through the
creation of a customer service desk to immediately meet
clients' needs.
Elaborating on this, the head of the unit, Mr. Emmanuel
Olaegbe said that
before now, the response time for resolution of customer
issues was not
up to par with the standard of customer service that was
intended to be
achieved, but with the above-mentioned innovations, the
response time in
line with projected targets is being achieved and surpassed.
Mr. Olaegbe enumerated the unit's activities to include;
Personnel
Outsourcing, Security Support and recently; Human Resource
Consultancy
and Recruitment services has been added to the portfolio of
the unit,
meant to further broaden the scope of services as well as
add value to
the client's business.
C & I Outsourcing whose clients list range from the oil and
gas, Fast
Moving Consumer Goods and Telecommunication sectors are
assuring its
client of better services this year.
Victoria Johnson (Corporate Affairs)
C&I Leasing PLC
C&I Leasing Drive
Off Bisola Durosinmi Etti drive
Off Admiralty Way, Lekki Phase 1 Lagos
Tel. +234 1 2703700 Ext. 133 Mobile: +234 8033920864
Email: victoria.johnson@c-ileasing.com
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