NGX records a 22% increase in annual profit can be accessed below.

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.

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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.

NGX Records 22% Increase In Annual Profit

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.