Firm invests in new businesses to consolidate performance
Its operating profit rose to N273.2 million in June 2022, from an operating loss of N177.2 million in June 2021, driven by 138.3 per cent growth in gross earnings. Profit before income tax grew by 134.4 per cent, from N521.9 million to N1.22 billion, due to impressive growth in the top line. Furthermore, total assets rose by 59.9 per cent to N39.8 billion from N24.9 billion achieved in December 2021, driven primarily by 91.3 per cent growth in investment in associates to N31.99 billion from N14.8 billion in Dec. 2021, and 116.8 per cent growth in Cash and Cash equivalent to N4.3 billion from N2.2 billion in Dec. 2021.
He said the goal remains to sustain its position as a leading integrated market infrastructure group in Africa, by diversifying its revenue streams and identifying and investing in new businesses.