NGX Annual Profit Hits 22%
The Nigerian Exchange Group’s profit after tax rose by 22 percent at the end of the 2021 financial period.
The group, who disclosed this in its audited results which ended December 31, 2021, revealed that its gross earnings rose by 13 percent to N6.8bn from N6.0bn; while its revenue rose by 14.9 percent 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 percent from 5.2 percent recorded in 2020.