IEI Anchor Pensions Grows In Revenue

IEI Anchor Pensions Grows In Revenue

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Managing Director/Chief Executive Officer of IEI-Anchor Pension Managers Ltd, Mr. Glory Etaduovie at the company’s annual general meeting in Abuja has said that the company recorded a modest growth in revenue of N450 million from N370 million for the year ended 31st December, 2015. Etaduovie noted that the growth represented a 22 per cent increase in revenue.

While addressing the shareholders, he said, “I am happy to inform you that we made giant strides in both tangible and intangible assets.

Despite the overwhelming changes. The previous loss position of N24.6 million was reduced to N16.8 million. This led to a more promising 2016.”

He added: “Our September 2016 unaudited accounts shows promise of a profitable year, as we have recorded a profit before tax of N98 million. The shareholders fund improved in 2016 from a decline position of N1.217 billion to N1.275 billion.

“This experience informed our planned theme for 2017 – Prism of Possibilities. We have left 2015 behind and taken lessons. There is a wide spectrum of initiatives and opportunities in 2017, despite the seeming doldrums.

“We are optimistic that the economy would wake up from the shocks of reality it is going through. By the current body language and utterances of the government, it now shows apparent eagerness to reflate the economy,” Etaduovie stated.

He said that in the course of the year, the company invested more in its staff for better performance in skills and morale boosting. The branches were especially given attention.

In his words he said, “To remain competitive, no modern company can afford to sleep over continuous improvement on its ICT needs. We took stock of our position and took new steps to reposition. Presently, we are happy to say our contributors are getting better service and previous complaints have thinned out. We hope to consolidate on this by 2017.  This more so as the new micro-pension window is strongly tilting to the use of ICT platform.”

Chairman of the company, Mr. Jonathan Zwingina contributed and said that the Board has taken proactive measures to ensure that despite prevailing economic downturn, it maintained profitability thereby enhancing shareholder’s value.

Zwingina said, “The year 2015 also saw the company grow by 12 per cent in its Retirement Savings Account generation with 83,568 accounts as against 74,901 accounts in 2014.

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