NGX Group records N1.22bn profit in six months

The Nigerian Exchange (NGX) Group recorded N1.22 billion profit in six months (H1) of 2022.

According to a filing obtained from the NGX’s group, the group’s gross revenue rose by N4.22 billion as against N1.77 billion recorded in the corresponding period of 2021 while its revenue rose to N3.82 billion in 2022 from N1.59 billion in 2021.

Furthermore, its profit before tax (PBT) grew to N1.22 billion as against N521.89 million while its profit after tax (PAT) soared by N820.17 million as against N449.66 million. The group’s Earnings per share also stood at 21 kobo as against 14 kobo recorded in 2021.

However, the group’s operating expenses grew to N2.33 billion compared to N702.94 million recorded in 2021 while its operating profit stood at N273.20 million compared with N177.18 million recorded in 2021.

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Reacting, analysts, while commending the Board and Management of the NGX Group, stated that the H1 results were impressive adding that a number of initiatives alongside premium listings were responsible for the performance.

The group had in March 2022, reported a profit after tax of 22 percent at the end of the 2021 financial period. Its gross earnings rose by 13 per cent to N6.8 billion from N6 billion; while its revenue rose by 14.9 percent from N5 billion in 2020 to N5.8 billion in 2021.

It also said the group’s PBT increased by 25.4 per cent to N2.4 billion, while its profit after tax rose by 22.2 per cent to N2.3 billion from N1.84 billion recorded in the corresponding period of 2020.

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