- August 26, 2019
- Posted by: cileasing
- Category: Uncategorized
Officials of the Nigerian Stock Exchange (NSE) on Thursday, paid a courtesy visit to C&I leasing Plc (C&I Leasing or the Company), Nigeria’s foremost leasing and ancillary services conglomerate as part of the NSE’s relationship building and retention function.
The NSE team, led by Olumide Bolumole, Executive Director and Divisional Head, Listing Business, were received by the executive management of C&I Leasing, at the Company’s head office in Lagos.
Bolumole, who represented Oscar Onyema, Chief Executive Officer of the bourse, said the visit was timely as it presented a fine opportunity for deliberations on C&I Leasing’s current operating activities, funding needs and peculiar challenges faced by the Company and the sectors it operates.
Commenting on C&I Leasing’s H1 2019 results after a presentation by Andrew Otike-Odibi, Managing Director and Chief Executive Officer, Bolumole said the Company’s bottom-line was “impressive” despite some challenges faced in the operating environment.
He said the NSE is willing to foster engagement between government, policymakers, and companies on a sector by sector basis, in order to create more opportunities for an enabling business and capital raising environment.
“We are quite impressed with your results and we share some of the comments you’ve made in terms of the challenges of your brand and how we can support you and…we encourage you to leverage on us as much as possible,” he said.
“What we’ve tried to do as part of our advocacy efforts, is to create a platform where policymakers and operators can have a conversation. We’ve found it ineffective to do that on a company by company basis, but have seen that it’s better when we engage on a sector by sector basis, either through a trade group or similar organizations.”
During his presentation, Otike-Odibi explained that C&I leasing had in the last few years made deliberate attempts to increase investments in the company’s marine and fleet management business, giving rise to the improved performance in the H1 2019 results.
He said CIL Leasing’s investment proposition is hinged on a long-term growth strategy that will reflect positively on the business’ returns and commercialize operations while adding value to existing partnerships.
“Some of the investments we made in 2018 kicked in potentially in 2019 and that impacted positively on the turnover and also on the profitability,” Otike-Odibi said.
“If you look at the sectors we currently play in–oil and gas, telecommunications, and power–those are the growth sectors in the Nigerian economy currently. We are looking to grow in other sectors but it depends on the opportunities that come up in those sectors.”
In rounding up the joint session, the C&I Leasing MD said the company has evolved to become a valuable resource and business partner for several indigenous and multinational blue-chip organizations.
Otike-Odibi thanked the NSE management for the visit, adding that the Company would take advantage of the support services offered by the bourse.
The C & I Leasing Group of companies is made up of three divisions: Fleet Management, Outsourcing and Marine divisions with two subsidiaries, Leasafric (Ghana) and EPIC International FZE (United Arab Emirates).
With a balance sheet of over N57.2 billion, a total staff strength of over 5,590 people and operational offices in Lagos, Port Harcourt, Abuja, Enugu, Benin and Ghana, the company takes pride in its track record of exceptional and qualitative service delivery.
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