DSC’s revenue growth climaxes at N2.9 billion

A finance investment firm, Digital Space Capital (DSC), has recorded a revenue expansion via gross income growth by 30.2 per cent, reaching about N2.9 billion in its 2023 financial year.

During the period, it also recorded a N620 million profit after tax (PAT) figure, which represents an 81.7 per cent rise year-on-year (YoY) from N341.2 million in 2022.

The company revealed this at its 2024 GaintStride Investment Summit with the theme ‘The Quantum Leap 5.0’ in Lagos, where it stated that profit before and after tax significantly increased by 82 per cent.

Presenting the financials, an Auditor at KSBC Advisory Partner Limited, Dr Aramide Ajayi said the feat was driven by diversification in revenue streams. He said while income grew at about 30. 2 per cent in 2023, expenses were at 15 per cent, yielding a positive ratio of about 15 per cent.

Chairman, Board of Directors, DSC, Dr Yahaya Abubakar, while commending the figures recorded, attributed the feat to the firm’s Group Managing Director, Olubukola Abitoye for her leadership role and achievement in the last five years. In her remark, Abitoye said the theme embodies bold ambition and retrogress, fostering transformative ideas and partnerships to redefine the investment landscape.

She said it was a platform for innovators and stakeholders to align and strategise to drive growth, sustainability and innovation. According to her, “Together we embrace the challenge of scaling impacts, reshaping industries and unlocking boundless opportunities for a prosperous future. The theme aligns with our core values of innovation, proactivity and unwavering commitment to excellence.”

Similarly, the Ooni of Ife, Oba Enitan Ogunwusi, also commended Abitoye, stating that “their growth is important and in everything that they do, I will continue to support them. In life, the greatest gift in this world is to surround yourself with values that will be my body and my strength in life”.