NGX 2024 Profit surges by 157.3%
Nigerian Exchange Group Plc (NGX Group or the Company) has announced its audited financial results for the year ended 31 December 2024, delivering a record-breaking profit before tax (PBT) of N13.6 billion, marking an impressive 157.3% year-on- year growth.
This strong performance was driven by robust revenue expansion, strategic cost optimization and increased market participation, reflecting the group’s resilience and financial strength, Izuchukwu Akpa Ag. Company Secretary, said in a statement.
The group’s gross earnings surged by 103.2% to N24.0 billion in FY 2024, up from N11.8 billion in the previous year, propelled by significant growth across key revenue streams.
Transaction fees rose 64.0%, driven by heightened market activity, just listing fees increased by 397.1%, reflecting stronger capital market participation.
Technology related income grew by 105%, while other fees recorded a 174.8% growth, reinforcing the Group’s diversified revenue base.
Treasury investment income climbed 45.6%, highlighting NGX group’s effective asset management.
Market data revenue equally grew by 100.5%, contributing to a 102.6% rise in other income, which now accounts for 29.6% of gross earnings.
In recognition of this performance, the Board of Directors approved a final dividend of N4.4 billion, translating to N2.00 per share, the highest dividend payout in the group’s history.
Speaking on the results, Group Chairman, NGX Group, Alhaji Dr. Umaru Kwairanga stated: “These results mark a pivotal moment in NGX Group’s post-demutualisation growth journey, reinforcing investor confidence in our long-term vision.
“The approval of a record N4.4 billion dividend demonstrates our unwavering commitment to rewarding shareholders, while positioning NGX Group as a key driver of capital market development.”
Group Managing Director/Chief Executive Officer, Mr. Temi Popoola, said: “The 157.3% increase in profit before tax underscores the strength of our execution strategy and the dedication of our team. By leveraging technology, expanding market data solutions and strengthening our partnerships, we have built a more resilient and diversified business model that positions us for sustained growth.”
