By Chinwendu Obienyi
Despite the peculiar challenges inherent in the nation’s operating environment, the Nigerian Exchange Group gross earnings recorded a significant growth of 138.3 per cent to N4.22 billion in six months of June (H1 2022) from N1.77 billion as of June 2021.
According to the unaudited results for the half year ended 30 June 2022, the group’s revenue grew by 140.4 per cent (N2.23 billion) to N3.82 billion in June 2022 from N1.58 billion recorded in June 2021.
The group’s treasury investment income rose by 165.1 per cent to N1,017.4 million in June 2022 relative to N383.7 million in the comparative period in 2021 driven largely by relatively higher yields on the Group’s treasury bills, bonds and fixed deposit investments while its transaction fees grew by 198.4 per cent to N2,320.7 million in June 2022 from N777.7 million recorded in June 2021 due to a significant increase in trading activities in Nigerian Exchange Limited.
Furthermore, the group’s profit before tax (PBT) grew by 134.38 per cent to N1.22 billion from N521.88 million recorded in the corresponding year of 2021 while profit after tax (PAT) rose by N820.17 million in 2022 as against N449.66 million.
Commenting on the performance, Group Managing Director, NGX Group, Oscar Onyema, said the NGX in 2021 took strategic steps to reorganise our business by laying the foundation for the rebirth of its franchise.
“As we became a fully-fledged for-profit making company with a clear focus on maximizing resources and improving stakeholder returns. Our performance in the first half of 2022 is a testament to our ability to deliver long-term value. We recorded impressive growth in our top line to deliver a profit before tax of N1.22 billion despite the peculiar challenges inherent in our operating environment.
Our goal remains to sustain our position as a leading integrated market infrastructure group in Africa, by diversifying our revenue streams, and identifying and investing in new businesses. We remain focused on building formidable businesses through broader and deeper involvement in every sphere of the capital market value chain.