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Premium Pension announces N5.3 billion turnover


Photo: ncsl

Photo: ncsl

THE board of Premium Pension Limited has announced that the turnover for the company grew from N4.226 billion in 2013 to N5.252 billion resulting in a growth of 24.28 per cent for the year ended 31st December, 2014.

Besides, the company’s profit before tax grew from N2.351 billion in 2013 to N2.609 billion, signifying a growth of 10.97 per cent, while profit after tax grew from N1.625 billion to N1.766 billion or a growth of 8.68 per cent.

The Chairman of the company, Aliyu Dikko, addressing shareholders of the company at the 10th yearly general meeting held in Abuja, explained that the assets and income for the Company witnessed significant growth during the year ended December, 31, 2014 despite stiff competition and macroeconomic instability. I am therefore happy to inform you that our growth has continued to translate into very good returns for our RSA holders.

He said “The number of RSAs registered by our company both in the public and private sector organizations increased from 613,449 as at December, 2013 to 662,628 in 2014. Out of the total RSAs, 514,446 were funded while 148,162 were still being persuaded for funding.

“The consolidated portfolio as at December 31, 2014 had a net asset value of N367.768 billion as against N323.427 billion that had been reported in December, 2013. This has resulted in a growth of 13.69 per cent. The RSA (active) fund which as at December 31, 2013 had a net asset value of N219.288 billion closed the year 2014 with N268.198 billion signifying a growth of 22.30 per cent.

“The RSA (retiree) fund that had N41.415 billion as at the end of the year 2013 recorded a decline of N1.144 billion or 2.76 per cent to close the year with a net asset value of N40.271 billion. The legacy fund which had N62.770 billion in 2013 financial year decreased to N57.898 billion or a 7.76% decline in growth.

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