NGX Group Grows Income by 18% to N5.71bn

Kayode Tokede

The Nigerian Exchange Group Plc (NGX Group) has recorded a 17.46per cent revenue growth in the three quarters of 2022 ended September 30, 2022 to N5.71billion from N4.86billion in the corresponding period of 2021.

This was disclosed in its Unaudited Financial Statements for the period ended  September 30, 2022. According to the income statement, revenue from its core businesses rose by 13.37 per cent from N4.39billion as of September 2021 to N4.97billion in the same period in 2022.

This include income generated from treasury investment, transaction fees, listing fees, rental income and other fees.

Other income consisting of market data income, net gain on disposal of property and equipment; and technology income also rose by 55.48 per cent from N417.83million as of September 2021 to N733.62million in the corresponding period of 2021.

Operating profit rose to N798.56million in September 2022 compared to N710.31million while operating margin declined to 13.99 per cent from 14.62 per cent in the previous year.

Profit after tax moderated to N464.38million from N1.73billionn, which was bolstered by N1.36billion in share of profit-equity, accounted investees. At the end of the reporting period, the Group recorded N172.66million in net profit.