By Dipo Olowookere
In order to sustain market dominance, the Nigerian Exchange (NGX) Group Plc has mapped out strategies, which are tested and trusted.
The reason for designing these policies is mainly to have a multi-exchange business with diversified revenues, optimize corporate governance structure, and eliminate redundancy through shared services that are used by multiple divisions across the group.
Speaking at the Group’s Full Year (FY) 2021 Investor and Analyst Presentation via Zoom on Thursday, the chief executive of the NGX Group, Mr Oscar Onyema, said the organisation has the tools to achieve this goal.
Mr Onyema said the holding company was working with its various subsidiaries and associate companies to optimise their strategy and increase profitability, which will support the upstreaming of dividends.
“Nigerian Exchange Limited (NGX), in collaboration with the Group, continues to focus on four pillars of community, marketplace, workplace, and environment to drive sustainability.
“Furthermore, NGX has digitized its ecosystem to promote more retail participation, and it is leveraging and investing in global market-driven technology, improving the listing universe, and working closely with regulators to enhance ease of doing transactions for issuers. At NGX Group, we have clear and well-defined strategies and are equipped to sustain market dominance,” he said.
Breaking down the group’s income streams, he explained that the revenue of the non-operating holdco is made up of dividends and treasury investment income.
On his part, the Chief Financial Officer of the NGX Group, Mr Cyril Eigbobo, said the last years, the firm grew its gross earnings by 13 per cent to N6.78 billion from N6.02 billion.
He added that the group’s profit before tax (PBT) increased by 25.4 per cent to N2.39 billion while its profit after tax (PAT) rose by 22.2 per cent to N2.25 billion from N1.84 billion recorded in the corresponding period of 2020.
According to him, the 14.9 per cent jump in the Group’s revenue from N5 billion from N5.8 billion due to a 24.8 per cent growth in listing fees which grew to N757.4 million as against N606.9 million in 2020, 4.9 per cent growth in its treasury investment income and a 2.1 per cent growth in the transaction fees which rose to N2.9 billion from N2.8 billion recorded in 2020.
Adedapo Adesanya