Chams makes N7.7 billion from cards, biometrics services as H1 profit rises

Chams Holding Company Plc generated N7.7 billion from the supply of cards and biometrics-related services in the first half of 2026, as the company continued to expand its presence in Nigeria’s payments and identity infrastructure businesses.

The two businesses accounted for the bulk of the company’s revenue during the period, even as total revenue declined 0.9% to N9.79 billion from N9.88 billion in H1 2025.

Despite the slight decline in revenue, Chams’ gross profit rose 30.9% to N2.57 billion, helped by lower cost of sales.

What the numbers are saying

Chams’ N9.79 billion H1 revenue was driven primarily by its card and biometrics businesses.

• Data Card Products generated N4.32 billion, representing 44.1% of group revenue.
• Biometrics and Related Services contributed N3.46 billion, accounting for 35.3%.
• Cyber Security, Infrastructure & Others contributed N1.85 billion, or 18.9%
• The remaining businesses, including Access Control, Payment Gateway Fees, E-Voting, Virtual Airtime and the I’m Alive, Kegow, Pension Central and BVN businesses, contributed relatively small amounts.

The two largest businesses therefore generated about 79% of total group revenue.

Cost of sales fell 8.8% to N7.22 billion, compared with N7.92 billion in H1 2025. This lifted gross profit 30.9% to N2.57 billion, while gross margin expanded from 19.8% to 26.2%.

That improvement, however, did not translate into stronger operating profit. Administrative expenses increased 70.6% to N2.05 billion, pushing operating profit down 44.2% to N529 million.

Chams ultimately recorded N473 million in profit after tax, up 13% from N419 million in H1 2025.

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