NSE records N8.30bn, 86% growth in 2017

The Nigerian Stock Exchange (NSE) has released its 2017 results which shows N8.30 billon income for the Group and N3.82bn surplus before tax for the year ended 31 December 2017.

It represents an 86 per cent increase in gross earnings when compared to the N4.46bn achieved in 2016. Surplus before tax grew by 5,629 per cent in the same period.

The NSE disclosed this at its 57th Annual General Meeting on yesterday in Lagos, where its 2017 Full Year Financial Results were announced.

The Exchange Group comprises four (4) subsidiary companies namely; Naira Properties Limited, Coral Properties Plc., NSE Consult Limited and NSE Nominees Limited. The Exchange also has interests in NG Clearing Limited and Central Securities Clearing System (CSCS) Plc as joint venture and associate company respectively.

Commenting on the results, Oscar N. Onyema, OON, CEO, NSE, said “this positive performance, after the significant headwinds witnessed over the past two years, affirms the resilience of our market and its potential as a catalyst of economic growth in Nigeria and the hub for Africa.”

President, National Council of NSE, Abimbola Ogunbanjo, said, “We have deployed a new four year corporate strategy that will reposition us as a more investor friendly and customer centric exchange hub in Africa. With this new strategy, we are poised to deliver superior performance for our multi-faceted stakeholders especially issuers and investors who continue to access our market to raise and save capital respectively”.

At the AGM, Members of the Exchange approved the Audited Financial Statement of The exchange for the year ended 31 December 2017, and the reports of the National Council and the Auditors thereon.