The Nigerian Exchange (NGX) Group Plc says its gross earnings grew to N6.8 billion in its audited financial results for the year ended Dec. 31, 2021.
The group, in a statement on Thursday in Lagos, said the figure represented 13 per cent increase from the N6 billion posted in 2020.
Also, its revenue rose by 14.9 per cent from N5 billion recorded in 2020 to N5.8 billion in 2021.
The group’s profit before tax (PBT) increased by 25.4 per cent to N2.4 billion, while profit after tax (PAT) rose by 22.2 per cent to N2.3 billion from N1.84 billion recorded in the corresponding period of 2020.
According to the group, the increase was driven by a 24.8 per cent growth in listing fees, which grew to N757.4 million as against N606.9 million in 2020.
It also attributed the revenue increase to 4.9 per cent growth in its treasury investment income and a 2.1 per cent growth in transaction fee.
This, it said rose to N2.9 billion from N2.8 billion 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, NGX Group Chairman, Otunba Abimbola Ogunbanjo, said, “We are delighted at the progress reported for financial year 2021 across strategic, operational and financial aspects of the Group’s business.
“The demutualisation and listing by introduction were significant and unprecedented milestones for the group and we would like to thank our stakeholders for their support and trust in the group’s quest to unlock its true value and diversify its operations and product offerings.
“All within one year, we demutualised, restructured, and listed the business with the Holdco being the investment holding company with three operating subsidiaries and other associate companies and equity investments.
READ ALSO:https://brandpowerng.com/ppp-best-option-for-funding-education-sector-others-lcci/
“In 2022, the aim is to continue to strengthen the NGX Group brand to make it a globally respected and a regional and national significant economic actor.”
Corroborating him, the group’s Managing Director/Chief Executive Officer, Mr Oscar Onyema, explained that the group refined its business model, with increased focus on expanding into new business areas.
According to Onyema, NGX Group, in 2021, focused on formulating and executing the strategy of the Holding company, which includes building multiple businesses across the entire capital market value chain.
“Gross earnings growth of 13.0 per cent coupled with after tax profit growth of 22.2 per cent is an encouraging start to our journey as an investment holding company.
“Going forward our focus remains: on strengthening our capital structure; being active in every sphere of the capital markets value chain in Nigeria, but also growing our presence across Africa.
“We aim to continue to create value, optimise profitability and build a sustainable business in alignment with stakeholders’ interest,” Onyema said.
(NAN)
