Nigerian Exchange Group Plc (NGX Group) has made public its audited financial figures for the fiscal year that concluded on December 31, 2024.
The exchange delivered a record-breaking N13.6 billion profit before tax (PBT), representing a remarkable 157.3 percent YoY growth.
The board of directors has authorized a final dividend of N4.4 billion, or N2 per share, in appreciation of this outstanding achievement. This is the largest dividend payout in the Group’s history.
This decision reaffirms the NGX Group’s dedication to providing value to shareholders while upholding a sound capital position.
Due to notable development in several important income sources, the Group’s gross earnings increased by 103.2 per cent to N24 billion in FY 2024 from N11.8 billion the year before.
For example, increased market activity led to a 64 percent increase in transaction fees. Stronger capital market involvement was reflected in the 397.1 percent increase in listing costs.
The group’s digital transformation efforts were successful, as seen by the 105% growth in technology-related income.
Its other income base was strengthened by the 174.8 per cent increase in other fees.
The 45.6 percent increase in Treasury investment income demonstrated the NGX Group’s adept asset management. Revenue from market data increased by 100.5 per cent, which helped other income—which now makes up 29.6 percent of gross earnings—increase by 102.6 per cent.
Strong revenue growth, smart cost optimization, and greater market participation, according to NGX Group, were the main drivers of its impressive performance in 2024, which demonstrated the Group’s financial stability and durability.
Speaking on the results, Umaru Kwairanga, Group Chairman, NGX Group, stated:
Temi Popoola, Group Managing Director/Chief Executive Officer, said:
TimesNow.com.ng reported that due to several business challenges, over 136 companies have filed for restructuring and delisting from the Nigerian Exchange Limited (NGX) within 24 years.
The X-compliance report revealed that some of the challenges these businesses battled include foreign exchange volatility affecting imports, inflation and rising operation costs, naira depreciation, among others.
The report further reveals that in the first nine months of 2023, the Nigerian subsidiaries of several foreign multinationals lost N900 billion to FX volatility.
Source: TimesNow.com.ng
