NGX Group has released its audited financial statements for the year ending on December 31, 2023, revealing a profit after tax of N5.2 billion and declaring a final dividend of N1.5 billion.
The Group experienced a significant increase in gross earnings, soaring by 57.4% to N11.8 billion in FY 2023 from N7.5 billion in FY 2022. This growth was attributed to strong performances in core revenue and other income segments.
Transaction fees rose by 52.6%, listing fees by 42.2%, and rental income by 41.8%. Strategic investments also contributed to a 5.4% increase in treasury investment income.
Other income, which made up 29.7% of gross earnings, saw a remarkable surge of 163.6%, reaching N3.504 billion. Market data income increased by 44.1%, and other operating income surged by 304.8%.
The Board approved a final dividend of N1.5 billion at 75 Kobo per share for the year ending on December 31, 2023, along with an interim dividend of N495.53 million at 25 Kobo per share paid in August 2023, making the total dividend for FY 2023 N1 per share.
NGX Group Chairman, Dr. Umaru Kwairanga, expressed satisfaction with the financial results and dividend payout, emphasizing the Company’s dedication to maximizing shareholder value.
The Group CEO, Temi Popoola, highlighted the operational performance and expressed optimism for continued growth and value creation in the upcoming fiscal year.
The financial metrics of NGX Group demonstrate a significant turnaround and operational success, with operating profit improving by 130.2% to N433 million and profit before income tax increasing by 639% to N5.27 billion.
After-tax profit surged by 788% to N5.25 billion, showcasing the Group’s financial health and earnings quality.
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