By Peter OBIORA investadvocate

Sept 29 2010 12.00 GMT

 

 

Chams Plc quoted in the Information and Communication Technology (ICT) sector of the Nigerian stock Exchange (NSE) has reported a N2.87 billion loss in its Audited Report for the period ended December 31 2009.

 

 

The company recorded N193 022 million in its Profit After Tax (PAT) in year 2008 compared to N2.87 billion it recorded in year 2009; indicating a loss of  1588.4 percent (-1588.4%) in the review period.

 

 

Chams also reported a loss in its Profit Before Tax and extraordinary item when in year 2008, it posted a (PBT) of N838.706 million compared to N2,474 billion in its year 2009 result; which represents a loss of 395.0 percent (-395.0%) in the period under review.

 

Turnover declined from N2.400 million in 2008 to N988.618 million in year 2009 showing a decline of 58.8 percent (-58.8%).