The Nigerian Exchange Group Plc on Monday published its Audited Financial Statement for the year ended 31 December, 2022.
The Group reported a turnover of N7.5 billion for the 12 months period, up by 10.31% from N6.8 billion reported the previous year.
Profit after tax declined year on year by 68.93% to N698.48 million form N2.25 million reported the previous year.
Earnings per share of the Group stands at 36 kobo.
At the share price of N26.5, the P/E ratio of NGX Group Plc stands 74.52x with earnings yield of 1.34%.
Commenting, Mr. Oscar N. Onyema OON, the Group Managing Director/Chief Executive Officer, said:
“NGX Group continued to bed-down its operations post demutualization and restructuring. Despite the economic headwinds affecting the country, as demonstrated by our year end results, we have continued to create lasting value. Our top-line expansion drove a 70.6% increase in Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) in 2022. In the same year, the Group leveraged its strong equity position and strategically increased its investment in an associate company in order to drive growth, boost efficiency and further maximize overall shareholder value.
However, the bottom-line operating performance slipped mainly due to the interest expenses resulting from borrowing to fulfil the strategic acquisition mentioned above.
Our growth will be driven by deepening value creation in subsidiaries and expansion into adjacent businesses. As an organisation, we remain committed to becoming Africa’s preeminent integrated market infrastructure group”.