Strong Financial Performance: NGX Group’s Gross Earnings Soar By 57.4% to N11.8 Billion

Strong Financial Performance: NGX Group’s Gross Earnings Soar By 57.4% to N11.8 Billion

In the fiscal year 2023, Nigerian Exchange Group Plc reported a remarkable 57.4% increase in gross earnings, reaching N11.8 billion, up from N7.5 billion in 2022. This growth was primarily attributed to strong performances in core revenue and other income segments.

The company’s full-year audited financial statements for the year ended December 31, 2023, revealed a profit after tax of N5.2 billion. Additionally, NGX Group declared a final dividend of N1.5 billion. Transaction fees experienced a notable 52.6% rise due to increased trading activities, while listing fees and rental income increased by 42.2% and 41.8%, respectively. Strategic investments contributed to a 5.4% boost in treasury investment income.

Other income, constituting 29.7% of gross earnings, saw an unprecedented surge of 163.6%, reaching N3.504 billion. Market data income increased by 44.1%, and other operating income witnessed an exceptional 304.8% rise, contributing significantly to this increase.

The Board, acknowledging the robust operational performance, approved a final dividend of N1.5 billion at 75 Kobo per share for the year ended December 31, 2023. This is in addition to the interim dividend of N495.53 million at 25 Kobo per share paid in August 2023, resulting in a total dividend of N1 per share for FY 2023.

The Group Chairman, NGX Group, Alhaji (Dr) Umaru Kwairanga, expressed satisfaction and optimism about the financial results and dividend payout. He emphasized NGX Group’s commitment to maximizing shareholder value and positioning the company as the premier financial market infrastructure in Africa.

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