BrandNewsDay Nigeria reports that NGX records a 22% increase in annual profit.
The Nigerian Exchange Group’s profit after tax rose by 22 per cent at the end of the 2021 financial period, the group disclosed this in its audited results ended December 31, 2021, on Friday
The audited results revealed that its gross earnings rose by 13 per cent to N6.8bn from N6.0bn; while its revenue rose by 14.9 per cent from N5bn in 2020 to N5.8bn in 2021.
It also said the group’s profit before tax increased by 25.4 per cent to N2.4bn, while its profit after tax rose by 22.2 per cent to N2.3bn from N1.84bn recorded in the corresponding period of 2020.
According to the group, the jump in its revenue was driven by a 24.8 per cent growth in listing fees, which grew to N757.4m as against N606.9m in 2020; 4.9 per cent growth in its treasury investment income, and a 2.1 per cent growth in transaction fee, which rose to N2.9bn from N2.8bn recorded in 2020.
Further analysis of the NGX group’s result revealed that its return on equity grew by 70 basis points to 6.6 per cent, while its return on assets stood at 5.9 per cent from 5.2 per cent recorded in 2020.
Commenting on the results, the Chairman, NGX Group, Abimbola Ogunbanjo, said, “We are delighted at the progress reported for FY 2021 across strategic, operational and financial aspects of the Group’s business.
Stanbic IBTC Asset Management has implemented strong measures to safeguard its customers from an alarming…
Michael Owhoko, Ph.D The root cause of Nigeria’s problem is, unarguably, an inappropriate system of…
Stanbic IBTC Pension Managers has launched the third edition of their highly anticipated FUZE Talent…
Stanbic IBTC Holdings, a member of Standard Bank Group, has unveiled the fourth edition of…
Stanbic IBTC Pension Managers has again made a significant mark on Nigeria's cultural landscape by…
NOVA Bank, one of the latest commercial banks in Nigeria, may be experiencing a major…
This website uses cookies.