BY PETER EGWUATU & CHINEDU IBEABUCHI

Courteville  Business Solutions Plc, a quoted entity on the Nigerian Stock Exchange (NSE) has recorded consistent profit in the past three (3) years from 2009 to 2011, Managing Director/CEO of the company, Mr. Adebola Akindele has said.

Speaking at the company’s fact behind the figures presentation of its 2011 financials, Akindele said, “Despite the harsh operating environment experienced within these periods, we are able to meet our promises and projections because the company is well focused and determined to succeed in its operations by initiating local products. So Courteville since listing on the floor of the NSE in 2009 has been consistent in declaring profit, from 2009 to 2011.

He stated that the firm has posted a Profit After Tax (PAT) of N181, 144,102 million, 179,427,759 million and N245, 353,061 million in years 2009, 2010 and 2011 respectively. “The Board has proposed a dividend of 5 kobo for the financial year 2011 subject to shareholders’ approval at the forth coming Annual General Meeting (AGM). This represents 11.11 per cent growth from 4.5kobo in 2010.

“In 2009 and 2010 we had paid three kobo in 2009. The dividend yield in 2011 was 10 per cent from 9 per cent in 2010, representing a growth of 11.11 per cent growth. P/E Ratio in 2011 stood at 6.03x from 8.25x in 2010, Earning yield in 2011 was 16.5 per cent from 12.12 per cent in 2010, representing 36.79 per cent growth.”

Other performance indicators show 36.2 per cent growth in turnover to N855.6 million in 2011 from N627.83million in 2010; Other Income grew by 7.68 per cent to  N259.74 million in 2011 from N241.20milllion in 2010 ; Gross profit percentage improved by 4.52 per cent to 42.55 per cent in 2011 from 38.03 per cent in 2010; Net profit margin remain relatively stable at 28.68 per cent  in 2011from 28.59 in 2010.

While analysing its operations, the Courteville boss said, “ Our Motor Vehicle Administration Documentation (MVAD)  is currently deployed in 18 States and in the Republic of Sierra Leone. We also have 3rd Party motor vehicle insurance marketing and sales application and Remote Document verification device currently deployed for FRSC, LASTMA and three other State Governments as well as for NIID.”

Furthermore, he said the company has Remote Data Capture mobile application that can be deployed on a simple mobile phone. On the future outlook of the company, Akindele said the company will iincrease concentration on e-business solutions; expand into the African & Caribbean market; as well as enhance its existing Egole e-commerce platform and creation of universal.