{
  "id": 2006215,
  "title": "Chams makes N7.7 billion from cards, biometrics services as H1 profit rises",
  "url": "https://urgent.news/2026/08/19/chams-makes-n7-7-billion-from-cards-biometrics-services-as-h1-profit",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-19T19:43:01.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/08/19/chams-makes-n7-7-billion-from-cards-biometrics-services-as-h1-profit-rises/"
  },
  "original_language": "en",
  "account": "Chams Holding Company Plc reported a N7.7 billion profit from card and biometrics services during the first half of 2026, as the company continued its expansion in Nigeria's payments and identity sector. Although total revenue declined slightly by 0.9% to N9.79 billion, the company's gross profit rose by 30.9% to N2.57 billion. The two primary revenue generators, cards and biometrics, accounted for 79% of total revenue. Despite higher administrative expenses, which surged 70.6% to N2.05 billion, Chams generated N473 million in profit after tax, marking a 13% increase from the previous half-year. The card business, particularly CardCentre, a subsidiary specializing in smartcard personalization and digital security, played a significant role, having processed over 2.6 million cards in the first quarter of 2026. The establishment of a new card manufacturing plant in May 2026, fueled by a surge in card sales by 573% in 2025, further bolstered the company's financial position. Biometrics and related services contributed N3.46 billion to the earnings, marking the business's second-largest revenue source. This performance demonstrates Chams' strategic focus on digital infrastructure and identity-related services, bolstered by a successful leadership transition.",
  "summary": "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 post Chams makes N7.7 billion from cards, biometrics services as H1 profit rises appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}