Custodian Investment Plc grows profit before Tax to N7.3bn
Custodian Investment Plc has announced an impressive result for the nine months period ended 30th September 2020, reporting profit before tax of N7.3 billion.
The amount represents a growth of 4.28 per cent compared with N7.0 billion achieved in the comparable period of 2019
The company is non bank financial institution quoted on the Nigerian Stock Exchange (NSE) with investments in life and non-life insurance, pension fund administration, trusteeship and property holding businesses.
Despite the challenging operating environment, the Group’s profit after tax rose more than 10 per cent to N6.0 billion year-on-year. Notably, the shareholders’ funds rose to N47 billion, recording 748 kobo per share from N44.7 billion , 743 kobo per share as at December 31, 2019 after the payment of gross dividend of N2.65 billion, 45 kobo per share to its esteemed shareholders during the period.
Commenting on the result, the Group Managing Director, Mr. Wole Oshin, attributed the impressive result to the resilience of the Group, the diversity of its product offerings, commitment of its staff and the unwavering support of its Board of Directors.
