NGX group records 34.5% growth in revenue

Nigerian Exchange (NGX) group has recorded revenue of N8.299 billion for the financial year ended December 31, 2023.

The amount represents an increase of 34.5 per cent compared to N6.170 billion reported the corresponding period of 2022.

Total income rose by N4.304 billion or 51.39 per cent to N11.803 billion from N7.499 billion achieved in the preceding year.

Personnel expenses grew to N4.940 billion from N3.664 billion rising  by 34.82 per cent, operating expenses also went up by N762 million or 30.62 per cent to N3.276 billion from N2.508 billion reported in 2022 while total expenses surged from N8.934 billion to N11.370 billion, indicating a growth of N2.436 billion or 27.27 per cent. 

The operating profit of the group went up to N433.025 million against negative of N1.434 billion reported the previous year.

An analysis of the group result indicated that profit before tax up from N716.116 million to N5.288 billion while profit after tax increased to N5.250 billion from N591.509 million in the same period of 2022.

Total current assets rose from N7.028 billion to N8.087 billion, Total non-current assets moved from N50.034 billion to N51.753 billion bringing total assets to N59.841 billion at the end of 2023 financial year from N57.063 in the preceding year.