Consolidated Hallmark Holdings Plc has announced a robust financial performance for the year 2023, achieving a 32% increase in revenue to N15.7 billion from N11.9 billion in 2022. At the company’s annual general meeting in Lagos, Chairman Shuaib Abubakar Idris highlighted this growth despite economic challenges. He noted a substantial rise in total assets by 44% to N26.2 billion and a remarkable increase in profit before tax to N4.6 billion from N983 million.
The company reported a total profit attributable to shareholders of N3.8 billion for 2023, a significant jump from N547 million in the previous year. Chairman Idris reaffirmed their commitment to shareholders with a proposed dividend of N0.05 per ordinary share. This amounted to a total payout of N542 million.
Looking ahead, Idris expressed optimism about a more favorable operating environment. He emphasized the strategic use of technology to enhance market share across all sectors where Consolidated Hallmark operates. Group Chief Executive Officer Mr. Eddie Efekoha reiterated the company’s commitment to prompt payment of fully documented claims as a key strategy moving forward.
Source: Vanguard