Custodian Investment reports 133% increase in PBT in 2024

Despite the difficult macroeconomic environment that characterised the 2024 fiscal year, Custodian Investment Plc has reported a profit before tax (PBT) of N60.673 billion on a gross revenue of N152 billion, compared with a PBT of N25.991 billion on a gross revenue of N98.872 billion in 2023, representing a growth of 133 per cent in profit before tax and 54 per cent in gross revenue.

Chairman of the company, Dr Omobola Johnson, told shareholders at the 30th Annual General Meeting (AGM) of the company held in Lagos that, “Our overall strong performance underscores the resilience of our business model and tenacity of our management team and staff.”

She reassured shareholders that the board will continue to work with management to deploy the group’s assets professionally, prudently, and profitably within the dictates of the evolving local and global economy.

On future prospects, the chairman noted, “Looking ahead, several strategic imperatives will be crucial for navigating the economic landscape of 2025,” adding that the group will be reinventing business models to adapt to new economic realities by focusing on agility, customer-centricity, and value creation by leveraging customer insights and exploring untapped opportunities to reignite market play and revitalise market strategies while aligning spending with core capabilities and eliminating non-value-adding expenses to enhance competitiveness.

She said, “In line with our commitment to deliver strong and sustainable returns to our shareholders, the board approved a total dividend of 125 kobo for every share of 50 kobo held for the financial year 2024, which is made up of an interim dividend of 15 kobo paid earlier and a final dividend of 110 kobo.”

She said the group would continue to foster a culture of innovation by harnessing emerging technologies and AI-driven solutions to drive efficiency while exploring innovative financing options, optimising capital allocation, and strengthening shareholder relationships by engaging with regulators, customers, and strategic partners to foster trust and collaborative value creation for sustainable growth.

She observed that despite the challenges of the review year, 2024 was a successful year for the company, noting that the exceptional feat recorded was made possible by the collective efforts, staunch support, and dedication of all stakeholders.

Also speaking, Group Managing Director of Custodian Investment, Mr Wole Oshin, said that in a bid to ensure they continue to grow and deliver value to all stakeholders, they will focus on the following key areas: enhancing stakeholder value, innovation and adaptability, integrity and governance, collaboration and growth, as well as sustainability and social responsibility.

He remarked that as they embark on this new chapter, he is confident that their collective efforts, resilience, and commitment to excellence will ensure continued success.

“As a group, we are committed to identifying and leveraging new investment opportunities that align with our vision of creating and preserving wealth for all stakeholders. We are committed to exploring new investment opportunities within the financial services industry while expanding our footprint across Africa,” Oshin said.

According to him, “We recognise that wealth creation is not solely about financial gains but also about fostering a sustainable and lasting impact,” adding that their role as custodians of value extends beyond delivering returns; it also involves building a legacy of trust, innovation, and meaningful contributions to society.

ALSO READ FROM NIGERIAN TRIBUNE