C&I Leasing posts N1.2 billion profit in nine months

C&I Leasing Group has achieved gross earnings of N19.9 billion in its unaudited result for the nine months ended September 30, 2018, or 15.7 per cent rise against N17.2 billion recorded in the corresponding period of 2017. Also, the Group posted profit after tax of 1.2 billion representing 25 per cent increase over N950 million achieved in 2017, while profit before tax also rose from N1.2 billion to N1.3 billion, representing 11.4 per cent increase. C&I Leasing in a statement attributed the improved performance to increased efficiency recorded across all the business units as well as improvement in capacity utilisation of both marine and non-marine assets. Furthermore, personnel outsourcing earnings rose 10.4 per cent to N5.0 billion, while riding on the back of expansion in existing and new contracts in Ghana and Nigeria, fleet management earnings increased by 6.3 per cent to N6.5 billion from N6.1 billion posted in the previous year. Its marine earnings also increased by 27.6 per cent from N6.6 billion to N8.9 billion due to an increase in the capacity utilisation of vessels compared to the previous year’s; while tracking income rose 7.0 per cent to N18 million from ₦16 million achieved in 2017 due to ongoing business restructuring activities. Read More: