Custodian and Allied Plc has released its unaudited consolidated results for the three months period ended 31 March, 2015, declaring an N1.87bn profit before tax.
The group’s PBT for the three months period rose by 40 per cent to N1.867bn over that of the corresponding period of 2014, which was N1.333bn.
In the period, the group grew its profit after tax by 33 per cent from N1.120bn in the corresponding period of 2014 to N1.488bn. Its basic earnings per share also rose – by 26.3 per cent – from 19 kobo to 24 kobo.
Although its asset base rose to N50.6bn from the N48.9bn at which it stood as of December 31, 2014, its revenue dipped by 3.2 per cent from N6.703bn to N6.490bn.
The Nigerian investment holding company, which is quoted on the Nigerian Stock Exchange and has significant investments in general and life insurance, pension fund administration, among others, said the results further demonstrated the diversity of its revenue base and its resilience in a challenging operating environment.
A statement from the group said that barring unforeseen circumstances, the Board of Directors believe that the trend would be maintained for the remaining period of the financial year.
The Custodian Group consists of Custodian and Allied Plc – the holding company, Custodian and Allied Insurance Limited, Custodian Life Assurance Limited, Custodian Trustees Limited and CrusaderSterling Pensions Limited.
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Source : Punch