Nigerian Exchange Group profit grows by 22.2 percent after tax

NIGERIA – Nigerian Exchange Group (NGX Group) Plc has released its audited results for the full year ended 31 December 2021 revealing 22.2 percent growth in profit after tax.

The Group’s audited results revealed that its gross earnings grew to US$16.36 million from US$14.44 million, resulting in a 13 percent increase. Revenue rose by 14.9 percent from US$12.03 million recorded in 2020 to US$13.96 million in 2021.

NGX group’s profit before tax (PBT) also increased by 25.4 percent to US$5.77 million while its profit after tax (PAT) rose by 22.2 percent to US$.5.53 million from US$4.43 million recorded in the corresponding period of 2020.

According to the Group, the jump in its revenue was driven by a 24.8 percent growth in listing fees, which grew to US$1.82 million as against US$1.46 million in 2020.

The boost was also influenced by 4.9 percent growth in its treasury investment income, and a 2.1 percent growth in transaction fees, which rose to US$6.98 million from US$6.74 million recorded in 2020.

In addition, analysis of the NGX Group’s result revealed that its return on equity grew by 70 basis points to 6.6 percent while its return on assets stood at 5.9 percent from 5.2 percent recorded in 2020.

We are delighted at the progress reported for FY 2021 across strategic, operational, and financial aspects of the Group’s business,” said Otunba Abimbola Ogunbanjo, NGX Group Chairman.

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.”

Nigerian Exchange Group Plc (NGX Group) is a leading integrated market infrastructure in Africa.

It serves the largest economy in Africa and is strengthening the competitiveness of African economies to achieve global prosperity.

As a key player in the continent’s financial markets, the group takes an active role in shaping the future of the markets through its investment in business innovation and technology.

NGX Group provides a wide range of services including listing and trading securities, licensing, market data solutions, ancillary technology, regulation, and real estate.

The company offers the services through its wholly-owned subsidiaries Nigerian Exchange Limited, NGX Regulation Limited, and NGX Real Estate.

The Group is also invested in the financial infrastructure space with investments in NG Clearing Limited, Central Securities and Clearing Systems (CSCS), OTC platforms, and three fintech companies.

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