Courteville CEO sheds light on half-year earnings & the impact of COVID-19

Courteville Business Solutions, a leading business solutions provider, has faced challenges in the first half of the year due to the impact of the COVID-19 pandemic. In an exclusive interview with CNBC Africa, the Managing Director and CEO, Adebola Akindele, shed light on the company's financial performance and strategies to navigate the current business environment. Akindele explained that the company experienced a significant drop in revenue in the first half of the year, attributing it to the triple impact of February, April, and May on the company's financials. The transition to remote work imposed additional costs on the company, leading to a decline in revenue by approximately 50% compared to the previous year. Despite the challenging times, Akindele expressed optimism about the company's performance in the second half of the year. To adapt to the changing business landscape, Courteville Business Solutions swiftly implemented a work-from-home model for its staff, focusing on cost-saving measures while ensuring operational efficiency. The company invested in technology to facilitate remote operations and enhance customer experience. Akindele highlighted that July showed promising results, with an increase in customer engagement, indicating a positive trajectory for the second half of the year. In terms of business segments, Akindele emphasized the resilience of the auto industry segment as the primary revenue driver for the company. However, Courteville Business Solutions has diversified its revenue streams, with other business activities contributing significantly to the overall revenue. The company's digital marketing initiatives have gained momentum, while efforts are underway to regain traction in certain states and enhance collaboration across platforms. Despite the challenges faced by the company, Akindele remains confident in Courteville Business Solutions' ability to navigate the current crisis and emerge stronger. The company's Annual General Meeting (AGM) was hailed as a success, showcasing a seamless and efficient virtual format that exceeded expectations. Akindele highlighted the importance of agility and innovation in adapting to changing business dynamics, suggesting that the company would continue to explore new ways of conducting business effectively. Looking ahead, Courteville Business Solutions is focused on capitalizing on emerging opportunities and enhancing its operational efficiency to drive growth in the second half of the year. While uncertainties remain amidst the ongoing pandemic, Akindele remains optimistic about the company's ability to weather the storm and achieve its financial goals for the year.