BUSINESS

NGX Group Grows Profit To N973.9m In Q3 2021

The Nigerian Exchange Group Plc (NGX Group) formerly known as the Nigerian Stock Exchange has released its unaudited Financial Statements for the period ended 30 September 2021 with 448.91% jump in profit for the third quarter to N973.854 million from N177.415 million in Q3 2020.

Profit for the nine months was weaker at 10.55% rise to N1.510 billion from N1.366 billion in 2020.

The group improved its revenue in the Q3 to N1.732 billion from 1.064 billion in Q3 2020 while figure for nine months rose to N4.388 billion from N3.785 billion in 2020.

448.91% Profit for the period 973,854 177,415 1,509,762 1,365,715

NGX Group was incorporated in Nigeria as a private Exchange Limited by shares on 15 September 1960 as Lagos Stock Exchange and its name was changed to The Nigerian Stock Exchange on 15 December 1977.

The Exchange was re-incorporated as a Exchange Limited by Guarantee on 18 December 1990. In 2021, the Nigerian Stock Exchange was fully demutualised changing from a member-owned not-for-profit entity into a shareholder-owned, profit making entity. This gave rise to a new structure – Nigerian Exchange Group Plc  with subsidiaries – Nigerian Exchange Limited (NGX Exchange), NGX Regulation Limited (NGX REGCO), and NGX Real Estate Limited (NGX RELCO).The address of the NGX Group’s registered office is Stock Exchange House, 2/4 Customs Street, Lagos.

The principal activities of Nigerian Exchange Group Plcand subsidiaries include listing and trading securities, licensing, market data solutions, ancillary technology, regulation, real estate, and more through its wholly-owned subsidiaries – NGX Exchange, NGX REGCO, and NGX RELCO.

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