The Group’s audited results revealed that its gross earnings
grew to N6.8 billion from N6.0 billion, resulting in a 13 per cent increase,
while revenue rose by 14.9 per cent from N5 billion recorded in 2020 to N5.8
billion in 2021.
Also, the group’s profit before tax (PBT) increased by 25.4
per cent to N2.4 billion while its 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 jump in its revenue 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, 4.9 per cent growth in its treasury investment
income and a 2.1 per cent growth in transaction fee, which 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, stated, “We are delighted at the progress reported for FY
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.
The Board has during the year under review, focused broadly
on adapting to the enhanced corporate governance demands following the change
in organizational form, whilst exercising its oversight functions on strategy
development and execution and drilling down on emerging value accretive
opportunities presented by the demutualisation.
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, Oscar N. Onyema, OON, explained that the Group went through
a restructuring of its business to refine its business model, with increased
focus on expanding into new business areas, which is reflective in the
activities of the Group.
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 with
diversified revenues as well as strategic and operational flexibility.
“Gross earnings growth of 13.0% coupled with after tax
profit growth of 22.2% 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 as a leading
integrated market infrastructure provider; optimising our current investments
and making new strategic investments; and recruiting top talents to execute our
strategy.
We aim to continue to create value, optimise profitability
and build a sustainable business in alignment with stakeholders’ interest”,
Onyema said.
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