C and I leasing records 519% profit growth in 2016

leasing

C and I leasing plc in its financial report for fourth quarter 2016, recorded NGN6.3 billion net lease rental income against NGN5.9 billion recorded in the financial year 2105.

Its net outsourcing income was NGN717.8 million against NGN687.2 million recorded in the fiscal year 2015.

The company recorded NGN1.0 billion profit before taxation in 2016 compared to NGN465.6 million recorded in the year before. After deducting its tax expense for the year , C and I leasing profit for the year was NGN920.8 million in contrast to NGN148.7 million  in the year 2015, which represents 519% growth year on year comparison.

The company acquired NGN38.3 billion worth of assets in the year in review in contrast to NGN29.2 billion recorded in the year 2015. Its total liabilities was NGN30.2 billion against NGN23.5 billion recorded in the year 2015.

C and I leasing plc ended the year 2016 with NGN9.1 billion lease rental income against NGN8.1 billion recorded in the previous year 2015. Its lease rental expense for the year was NGN2.7 billion loss against NGN2.1 billion loss recorded in the year before.

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Company Information

C & I leasing Plc is the foremost brand for finance leases, and other ancillary services in Nigeria. With a current market capitalization base of over N12 billion (approximately $100 million), a staff strength of over 2,000 people and operational offices in key locations in Nigeria and Ghana, the company takes pride in its track record of exceptional and qualitative service delivery.

Today, the C & I leasing Plc brand presence can be felt in major sectors in the Nigerian economy, providing specialized services, in Marine, Telecommunications, Oil and Gas, Equipment Rentals, Manpower Outsourcing and Transportation.

C & I Leasing Plc was incorporated in 1990 as a limited liability Company. Licensed by the Central bank of Nigeria to offer operating and finance leases and other ancillary services, the Company commenced full operations in 1991. In 1997, C & I leasing Plc concluded a major restructuring and diversification project that saw its conversion to a public company with its shares listed on the official list of the Nigerian stock exchange as the only leasing and rental Services Company.