IN its unaudited results for the half year ended 30 June 2022, the Nigerian Exchange Group Plc posted 138.3 per cent increase in gross earnings to N22 billion from N1.77 billion as of June 2021.
The impressive increase in earnings was driven by a 119.6 per cent growth in other income. Also, the company’s revenue increased by 140.4 per cent (N23 billion) to N3.82 billion in June 2022 from N1.58 billion recorded in June 2021.
Commenting, Mr Oscar N. Onyema OON, the Group Managing Director/Chief Executive Officer, said: “In 2021, we took strategic steps to reorganise our business by laying the foundation for the rebirth of our franchise as we became a fully-fledged for-profit making company with a clear focus on maximising resources and improving stakeholder returns. Our performance in the first half of 2022 is a testament to our ability to deliver long-term value. We recorded impressive growth in our top line to deliver a profit before tax of N1.22 billion despite the peculiar challenges inherent in our operating environment.
“Our goal remains to sustain our position as a leading integrated market infrastructure group in Africa, by diversifying our revenue streams, and identifying and investing in new businesses. We remain focused on building formidable businesses through broader and deeper involvement in every sphere of the capital market value chain through informed investments in profitable verticals and enhanced risk management practices, without losing sight of emerging opportunities in unrelated businesses within the Sub-Saharan African region,” he said.
The company posted one per cent growth in treasury investment income, a 26.6 per cent of revenue, to N1,017.4 million in June 2022 relative to N383.7 million in the comparative period in 2021 driven largely by relatively higher yields on the Group’s treasury bills, bonds and fixed deposit investments.
Transaction fees, which comprises of 60.7 per cent of the group’s revenue, increased by four per cent to N2,320.7 million in June 2022 from N777.7 million recorded in June 2021 due to a significant increase in trading activities in bourse.
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