NGX Records N6.17bn Revenue in 2022

The Nigerian Exchange Group Plc has recorded a revenue of N6.17 billion in its audited financial statement, ended Dec. 31, 2022.

The Group mentioned this in a corporate disclosure to the NGX.

It said that the figure represented an increase of  6.8 percent Year-on-Year (YoY) when compared  with N5.78 billion reported in the corresponding period of 2021.

The increase was attributed to the 51.2 percent YoY appreciation in treasury investment income which rose to N2 billion in 2022 from N1.3 billion in 2021.

Also, transaction fees increased to 51.2percent YoY of revenue which also grew by nine percent YoY to N3.2 billion from N2.9billion in 2021.

From the Group’s profit and loss figures, total expenses grew by 35.5 percent to N8.8 billion from N6.5 billion in 2021, primarily driven by interest expense on borrowings recorded as N2.1 billion.

Further breakdown of expenses revealed that personnel expenses that contributed about 42 percent of total expenses also grew by 13.1 percent to N3.7 billion from N3.2 billion in 2021.