NGX Group’s profit surges by 86.5 percent to N14.69bn

Nigerian Exchange Group Plc (NGX Group) nearly doubled its profit after tax to N14.69 billion in the nine months ended September 30, as a sharp increase in transaction fees lifted revenue and strengthened earnings.

The Group’s unaudited financial statements showed that profit after tax rose by 86.5 percent, from N7.88 billion in the corresponding period of 2025, while revenue increased by 79.8 percent to N27.26 billion, from N15.16 billion, reflecting stronger income generation from activities across its capital market businesses.

Transaction fees remained the principal revenue driver, more than doubling to N20.68 billion from N9.74 billion a year earlier. Listing fees also increased to N3.73 billion, while treasury investment income contributed N2.07 billion, highlighting the Group’s ability to generate income from trading activity, securities listings and investments.

Total income, including other operating income and market data revenue, reached N29.57 billion during the period.

Profit before tax climbed to N20.58 billion from N11.23 billion, while operating profit rose to N14.87 billion from N8.57 billion. The improvement came despite mounting operating expenses, indicating that revenue growth was sufficient to support higher costs.

Personnel expenses increased to N7.40 billion, while other operating expenses rose to N6.68 billion. Depreciation and amortisation amounted to N623.95 million.

READ ALSO: NGX gains marginally as Aradel Holdings rises 7.1%

The earnings performance strengthens NGX Group’s financial position as it continues to benefit from activities within Nigeria’s capital market and income from its investments in market infrastructure businesses.

The balance sheet showed total assets of N79.11 billion as of September 30, compared with N71.05 billion at the end of December 2025. Shareholders’ equity rose to N61.07 billion, supported by retained earnings of N54.65 billion.

Investments in associates, including Central Securities Clearing System Plc (CSCS), stood at N34.26 billion, while investment securities amounted to N35.69 billion.

The Group’s operating cash flow also improved, with net cash generated from operating activities rising to N9.55 billion from N3.62 billion in the corresponding period of 2025.

Dividend income from subsidiaries, including NGX Limited and CSCS Plc, contributed to cash inflows at the parent-company level. The Group reported receiving N12.44 billion in dividend payments from the subsidiaries during the period.

On shareholder returns, NGX Group paid N8.23 billion in dividends, while cash and cash equivalents stood at 1.61 billion at the end of September.

The financial statements, approved by the Board on October 20, 2026, were signed by Group Chief Executive Officer, Temi Popoola, and Chief Financial Officer, Bayo Opatade.

The nine-month performance provides evidence of stronger profitability, but the pace of future growth will depend partly on trading activity, new listings, demand for market services and the performance of its investment portfolio.