NSE Commends Africa Prudential Plc

Africa Prudential Plc, one of the leading share registration and investor services firm in Nigeria has been commended by the leadership of the Nigerian Stock Exchange (NSE) for championing laudable initiatives which have contributed significantly in developing the Nigerian Capital Market.

While speaking with delegates during the Closing Gong Ceremony held in honour of Africa Prudential Plc recently, the Chief Executive Officer of the Exchange, Mr. Oscar Onyema, who was represented by the Chief Risk Officer, Mr. Tunji Kazeem lauded Africa Prudential Plc for ground-breaking initiatives over the past years. “The Exchange and Africa Prudential Plc have had several years of cordial relationship. We are sure the wisdom and leadership of the company will present further opportunities to collaborate on Capital Market development and other mutually beneficial areas such as sustainability” he added.

The company had earlier announced its Unaudited Financial Statements for the period ended June 30, 2018, showing turnover growth of 48 per cent, from N1.47 billion in 2017 to N2.17 billion and delivering an Earnings Per Share of 49 kobo.

Profit before tax grew by 20 per cent from N0.95 billion in the corresponding period of 2017, to N1.14 billion, while profit after tax grew by 14 per cent year-on-year, to N0.98 billion.

In addition, its total assets grew by 13 per cent to N24.88 billion, compared to N21.93 billion as at period ended December 31, 2017.

Commenting on the financial results, the Managing Director/CEO of Africa Prudential Plc, Mr. Obong Idiong said, “the results show the success and strength of our business model as a company, as we are committed to taking Africa Prudential Plc to greater heights by continuing to break new grounds, thereby staying ahead of competition. Africa Prudential is still poised to be number one in Nigeria, with an aspiration to expand into the African market, driven by technology, translating to strong operational and financial efficiency”.

He further emphasised that, “the company will intensify efforts to build on the progress so far recorded in our business diversification drive by pursuing relentless innovation in product development and process improvement, leveraging technology to offer exceptional customer experience to our clients.”