Chams Holding Company Plc, one of Nigeria’s oldest indigenous tech firms and a pioneer in digital identity and payment solutions, delivered strong revenue growth in the first half of 2025, even as post-tax profit plunged amid macroeconomic headwinds that pushed costs higher and financing burdens up.
Net profit for the six months ended in June dropped by 54 percent to N419 million from N901 million in H1 2024, while Q2 profit fell 64 percent to N270.1 million from N754.8 million a year earlier.
The Lagos-based firm recorded N9.88 billion in revenue, up 18.8 percent from N8.32 billion, buoyed by stronger contract wins and growing uptake of its identity and payments platforms. But the cost of sales rose over 40 percent to N7.92 billion, shrinking gross margin to 19.8 percent from 32.1 percent and reducing gross profit to N1.96 billion.