Custodian and Allied Plc, a wholly owned Nigerian company quoted on
the Nigerian Stock Exchange (NSE) has announced an un-audited profit
before tax of N2.751 billion and profit after tax of N2.276 billion for
the half year period ended June 30, 2014.
The result represents an increase of over 100 per cent over the
N1.137 billion profit after tax recorded in the corresponding period of
2013.
Similarly, shareholders’ funds grew by 9.34 per cent to N20.88
billion from N19.09 billion as at June 30, 2013, while total assets
stood at N48.2 billion compared with N45.6 billion reported as at June
30, 2013.
The company’s Chief Finance Officer, Ademola Ajuwon, in a statement
made available to the media said the results have been transmitted to
the NSE.
He observed that the improved result was achieved on the back of
favourable underwriting income from the insurance subsidiaries and
remarkable efficiency gains.
According to Wole Oshin, a Director of the company, “the performance
presents in concrete terms the result of Custodian and Allied Plc’s
unwavering customer focus, comprehensive systems, processes and
operations integration, coupled with unrelenting commitment to its
corporate ideal of exceeding customers and other stakeholders’
expectations at all times. We will continue to ensure that our products
and services are customer-driven even as we strive to position our
subsidiaries to become Africa’s insurers of choice,” he added.
Following this stellar performance, the Board of Directors has
recommended the payment of an interim dividend of 6 kobo on every 50
kobo ordinary share of the company to shareholders on record as at the
close of business on August 8, 2014.
No comments:
Post a Comment