By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-Courteville Business Solutions Plc listed in ICT(Computer Based System) of the Nigerian Stock Exchange (NSE), has expanded to 18 States of Nigeria with its AutoReg Motor Vehicle Administration and Documentation (AutoReg MVAD). Adewale Sonaike, Deputy Managing Director, (DMD) AutoReg franchise of the Company disclosed this recently to Journalists in Lagos, Nigeria.
Sonaike says two new States and the Federal Capital Territory (FCT) Abuja have signed on the AutoReg platform. The two States are Imo and Zamfara making it a total of 18 States.
“The AutoReg Business Solution, which is a patented and Franchise business in Nigeria has been able to grow in multiples, I say multiples because now it is operational in 18 states of the Federation as three new states have been signed on†Sonaike said.
According to him, Imo State commenced the AutoReg Business Solution on October 01 2011, Zamfara State November 01 2011; while Abuja is scheduled to start December 01 2011.
“Abuja which is the Federal Capital of Nigeria and one of the few places that we have been prospecting in the past few years signed recently and will be commencing soon. It is a new dawn and I am sure the people of the FCT will particularly appreciate it and be proud of it. The automated motor vehicle documentation (AutoReg) that is well tested will bring more benefits to all stakeholders he said.
On revenue generation for the States, Sonaike said the AutoReg Business Solution will bring increased revenue to the States that have adopted it, because it is a system that ensures maximum collection of all revenue due to Government on Motor Vehicle Documentation and Administration.
“One thing that I can assure you is that the AutoReg Business Solution will collect maximally all revenue that is due to the various State Governments and the FCT within their geographical location over a period of time and they will be proud of it†he affirmed.
Sonaike further affirmed that the AutoReg is not about revenue generation alone, but a business solution that brings to the table online real time registration of motor vehicle documentation of vehicle owners and vehicle details, “this is to assist the various States for online verification of their vehicle licenses and electronic planning and formulation of vehicular movement and administration†he said.
Meanwhile, Sonaike says Courteville is not about AutoReg alone but e-business, a company that is already in partnership with NAFDAC for deployment of a new solution “NAPAMS†which is the Nafdac Product Administration Management System as well as the Nigeria Insurance Association (NIA) for remote verification of all Motor Vehicle Insurance Policies issued in Nigeria under “National Insurance industry Database†system it recently signed with the association.
The company has also concluded arrangement for the introduction of another educational portal for the administration and monitoring of students performances in schools by their parents. It is code name P-SEAMS for Parents Student Educational Administration Management System expected to comprehensively document all about a student’s academic life from day one in school till completion.
Sonaike assured that both Parents and School administrators’ will appreciate it while also reminding journalists that more products will be rolled out from the foremost e-business solution company in Nigeria.
Also, Courteville Business Solutions has posted a Turnover of N810.173 million in its unaudited Q3 Sept 2011 result made available to the Nigerian Stock Exchange (NSE).
Turnover of the Firm increased to N810.173 million in the Third Quarter of year 2011 from N648.852 million in the corresponding period of 2010 indicating an increase of 25% in the review period.
Profit After Tax (PAT) also grew from N161.548 million in the Q3 of 2010 to N198.271 million in the Third Quarter of 2011 showing a growth of 23%.
While Profit Before Tax (PBT) also increased from N192.315 million in the Q3 of 2010 to N233.260 million in the review period of 2011 representing an increase of 21%.
Courteville had in its audited period of 2010 rewarded investors of the Company with a total dividend of N133.2 million, culminating to 4.5 Kobo per unit of shares held.
This Sonaike says will continue to come the way of shareholders of the Company, “we will continue to pay a consistent and improved dividend to shareholders of Courteville; which is the reason we are in business; to add value to all our stakeholders†he said.
The Company notified the Nigeria’s Stock Exchange that at its Annual General Meeting (AGM) held on Thursday July 28, 2011, its shareholders by a special resolution approved the change of name from Courteville Investment Plc to Courteville Business Solutions Plc.