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NGX Group grows transaction fees to N1.8bn in H1

NGX Group grows transaction fees to N1.8bn in H1

The Nigeria Exchange, the hub of the capital market, reported N1.83 billion as its transaction fees for the first quarter of 2023.

This figure accounted for 57 percent of the total revenue generated in the first half of the year. It however decreased by 21.1 percent compared to N2.32 billion recorded in the same period of 2022.

The total revenue for the first half of 2023 amounted to N3.20 billion, down from N3.82 billion in the same period of 2022.

The treasury investment income also saw a decline, dropping to N868.5 million in the first quarter of 2023 from N1.01 billion recorded in the same period of 2022.

The company noted that the treasury investment income includes income from bonds, treasury bills, and fixed deposits.

“Treasury investment income includes income from Bonds, Treasury bills and fixed deposits. The Group and Company earn interest income from investments in treasury bills, fixed deposits with commercial banks and bonds. The interest income is recognised using the effective interest method,” the company stated.

However, other income saw an increase of 24.89 percent to N490.2 million in the first quarter of 2023 from N392.48 million recorded in the same period of 2022, mainly due to an increase in income from market data, amounting to N287.9 million.

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Personnel expenses increased to N1.41 billion in the first half of 2023 from N1.35 billion recorded in the same period of 2022. Meanwhile, other expenses increased to N1.03 billion in the first half of 2023 from N0.99 billion recorded in the same period of 2022.

Total operating expenses also saw a marginal increase to N2.61 billion in the first quarter of 2023 from N2.60 billion recorded in the same period of 2022.

Finance cost recorded a decline to N1.21 billion in the first quarter of 2023 from N1.34 billion recorded in the same period of 2022.

Share of profit-equity accounted investees also declined to N857.2 million in the period under review from N945 million recorded in the same period of 2022.

Profit for the recorded declined by 46.34 percent to N440 million in the first quarter of 2023 from N820 million recorded in the same quarter of 2022.

Total equity and liabilities amounted to N54.94 billion.

Net cash from operating activities recorded a loss of N4.19 billion, contrasting with a profit of N16.33 billion recorded in the same period of 2022.

Net cash flow from investing activities, recording a profit of N5.45 billion in the first half of 2023, compared to a loss of N14.49 billion in the same period of 2022.

Net cash used in financing activities resulted in a loss of N947.6 million in the first quarter of 2023, compared to a profit of N210.49 million in the same period of 2022.

The cash and bank balance at the end of the period amounted to N5 billion from N4.3 billion recorded in the same period of 2022.