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Courteville Posts 30.2% Increase in Turnover

29 Aug 2012

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 MD,   Courteville, Mr. Bola Akindele



By Eromosele Abiodun


Courteville Business Solutions Plc listed on the Commercial Services Sector of the Nigerian Stock Exchange (NSE), has announced a turnover of N550.516 million for the second quarter ended June 30, 2011, indicating an increase of 30.2 per cent over N384.445 million in recorded in the corresponding period of 2010.


However, profit after tax stood at N131.31 million, down from N245.35 earned in the corresponding period of 2011.
Commenting on the result, Group Managing Director, of Courteville, Mr. Bola Akindele, said conservatism has helped the Company achieve whatever they have achieved so far.


He said the company will continue its conservative approach to ensure that shareholders fortune is enhanced.
According to him, the Company has not been too extravagant in spending money in getting the business done, “We have just tried to maintain the status of being reasonable in the way we conduct our business. We will pay dividend according to the profit made by the company, we will also consider the position of the company’s balance sheet at the end of each financial year before proposing any dividend” he said.


He disclosed that Courteville last week exhibited at the Africa Fashion Week (AFW) in London United Kingdom (UK) in its bid to support and provide e- business solutions to Companies; including Small and Medium Scale Enterprises (SMEs).
“Courteville is a business solutions company, but we always strive to support small businesses and new initiatives coming out of Nigeria especially. We came not only to support part of the Fashion Week but have come to showcase some of the products and services that we get to do very well in Nigeria,” Akindele said.

Looking at the budget assumptions, is there any you will advise the  government to adjust?

Unfortunately, oil remains our major source of budget revenue, even though that recently, the tax revenue has quadrupled. I do know also that Customs collections have also doubled. I believe that our tax basis is still very narrow. There are still a lot of people in this country who don’t pay tax and are completely outside the tax net. Sometimes the tax processes are just too cumbersome.


So it is important in my view for government to continue to work to expand our tax base as a way of increasing revenue. More importantly, I believe there is need for us to take steps to diversify our economy and to improve the opportunities in the non-oil sector.

Tags: Business, Featured, Nigeria, Courteville, Bola Akindele

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