{"id":56479,"date":"2022-03-03T18:18:07","date_gmt":"2022-03-03T17:18:07","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=56479"},"modified":"2022-03-03T18:18:07","modified_gmt":"2022-03-03T17:18:07","slug":"ngx-group-announces-growth-of-22-2-in-profit-after-tax","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/","title":{"rendered":"NGX Group Announces Growth Of 22.2% In Profit After Tax"},"content":{"rendered":"

\n

Nigerian Exchange Group (\u201cNGX Group\u201d or \u201cThe Group\u201d) Plc is pleased to announced that it has released its audited results for the full year ended 31 December 2021, on Tuesday, 01March 2022.<\/p>\n

The Group\u2019s audited results revealed that its gross earnings grew to N6.8 billion from N6.0 billion, resulting in a 13 per cent increase. Revenue rose by 14.9 per cent from N5 billion recorded in 2020 to N5.8 billion in 2021. Also, the group\u2019s 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.<\/p>\n

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.<\/p>\n

Further analysis of the NGX Group\u2019s 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.<\/p>\n

Commenting on the results, NGX Group Chairman, Otunba Abimbola Ogunbanjo, stated, \u201cWe are delighted at the progress reported for FY 2021 across strategic, operational and financial aspects of the Group\u2019s 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\u2019s 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\u201d.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Corroborating him, the Group\u2019s 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.<\/p>\n

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.\u00a0 \u00a0\u201cGross 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\u201d.<\/p>\n

\u201cGoing 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\u2019 interest\u201d, Onyema said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nigerian Exchange Group (\u201cNGX Group\u201d or \u201cThe Group\u201d) Plc is pleased to announced that it has released its audited results for the full year ended 31 December 2021, on Tuesday, 01March 2022.<\/p>\n","protected":false},"author":6,"featured_media":48181,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[8539],"coauthors":[2391],"class_list":["post-56479","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-ngx"],"yoast_head":"\nNGX Group Announces Growth Of 22.2% In Profit After Tax - National Wire<\/title>\n<meta name=\"description\" content=\"Nigerian Exchange Group (\u201cNGX Group\u201d or \u201cThe Group\u201d) Plc is pleased to announced that it has released its audited results for the f\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NGX Group Announces Growth Of 22.2% In Profit After Tax - National Wire\" \/>\n<meta property=\"og:description\" content=\"Nigerian Exchange Group (\u201cNGX Group\u201d or \u201cThe Group\u201d) Plc is pleased to announced that it has released its audited results for the f\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-03T17:18:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/04\/NGX_Group_Identity_RGB.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/04\/NGX_Group_Identity_RGB.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/04\/NGX_Group_Identity_RGB.jpg\",\"width\":700,\"height\":400},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/\",\"name\":\"NGX Group Announces Growth Of 22.2% In Profit After Tax - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/#primaryimage\"},\"datePublished\":\"2022-03-03T17:18:07+00:00\",\"dateModified\":\"2022-03-03T17:18:07+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"description\":\"Nigerian Exchange Group (\u201cNGX Group\u201d or \u201cThe Group\u201d) Plc is pleased to announced that it has released its audited results for the f\",\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NGX Group Announces Growth Of 22.2% In Profit After Tax\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"NGX Group Announces Growth Of 22.2% In Profit After Tax - National Wire","description":"Nigerian Exchange Group (\u201cNGX Group\u201d or \u201cThe Group\u201d) Plc is pleased to announced that it has released its audited results for the f","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/","og_locale":"en_US","og_type":"article","og_title":"NGX Group Announces Growth Of 22.2% In Profit After Tax - National Wire","og_description":"Nigerian Exchange Group (\u201cNGX Group\u201d or \u201cThe Group\u201d) Plc is pleased to announced that it has released its audited results for the f","og_url":"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/","og_site_name":"National Wire","article_published_time":"2022-03-03T17:18:07+00:00","og_image":[{"width":700,"height":400,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/04\/NGX_Group_Identity_RGB.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/04\/NGX_Group_Identity_RGB.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/04\/NGX_Group_Identity_RGB.jpg","width":700,"height":400},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/","name":"NGX Group Announces Growth Of 22.2% In Profit After Tax - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/#primaryimage"},"datePublished":"2022-03-03T17:18:07+00:00","dateModified":"2022-03-03T17:18:07+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"description":"Nigerian Exchange Group (\u201cNGX Group\u201d or \u201cThe Group\u201d) Plc is pleased to announced that it has released its audited results for the f","breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/ngx-group-announces-growth-of-22-2-in-profit-after-tax\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"NGX Group Announces Growth Of 22.2% In Profit After Tax"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/56479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=56479"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/56479\/revisions"}],"predecessor-version":[{"id":56480,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/56479\/revisions\/56480"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/48181"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=56479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=56479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=56479"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=56479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}