Custodian Investment Plc releases unaudited results for the year ended 31st December 2021

– Grows Revenue by 14% to N85.5 billion and Net Asset per share to 924 kobo.

Custodian Investment Plc (CUSTODIAN on NGX, CUSTODIA:NL on Bloomberg), a diversified non-bank financial institution quoted on the Nigeria Exchange (NGX) with investments in life and non-life insurance, pension fund administration, trusteeship and real estate businesses, has announced its unaudited result for the year ended 31st December 2021.

Major business segments reported appreciable revenue and profit growths despite the challenging operating environment. Specifically, Gross Revenue increased by 14% to N85.5 billion and, after adjusting for non-recurring one-time gain from prior year’s result, profits from continuing ordinary operations recorded 18% growth.

The Group’s shareholders’ fund grew by 14% from N47.6 billion to N54.3 billion after paying dividends totalling N3.24 billion or 55k per share during the year.

Commenting on the result, the Group Managing Director, Mr Wole Oshin, attributed the result to the resilience of the Group, the diversity of its product offerings, the commitment of its staff and the unwavering support of its Board of Directors. He sees a brighter future for the Group, especially from incremental contribution from its real estate business segment on completion of the ongoing restructuring of the segment.

He further recognized and appreciated the steadfastness of its clients, agents, brokers and all other stakeholders in the insurance, pension, and investment value-chain to the Custodian Group.