C & I Leasing Plc has reported a significant increase in its gross earnings, which surged to ₦36.7 billion for the financial year ended December 31, 2024, marking a strong performance despite a challenging economic environment.
The company disclosed the figures in its audited financial statements released to the Nigerian Exchange Limited (NGX), showing a 22% rise compared to the ₦30.1 billion recorded in the previous year.
The boost in revenue was driven by robust performances across its three main business lines—fleet management, marine services, and outsourcing solutions—as the company continued to expand its client base and improve operational efficiency.
Managing Director of C & I Leasing, Mr. Andrew Otike-Odibi, attributed the growth to strategic cost control, technology-driven service delivery, and increased demand for leasing solutions amid tight credit conditions in the broader economy.
“Our performance reflects the resilience of our business model and the trust our clients place in us,” Otike-Odibi said. “We remain focused on unlocking new opportunities across sectors while enhancing shareholder value.”
The company also reported improvements in its operating profit and net income, though exact profit figures were still being finalized at the time of publication.
Industry analysts say C & I Leasing’s strong top-line growth underscores renewed confidence in Nigeria’s leasing market, particularly as businesses seek more flexible financing options amid high interest rates and FX volatility.
The firm also announced plans to expand its technology infrastructure and deepen its marine logistics services, particularly in support of offshore oil and gas operations.
Investors responded positively to the earnings announcement, with C & I Leasing shares gaining 4.2% in intraday trading on the NGX.
With growing demand for asset-light business models and outsourced services, C & I Leasing is positioning itself as a key player in Nigeria’s evolving corporate services landscape.
Leave a Reply