Finance

Custodian Investment reports 14% revenue growth

Custodian Investment

Custodian Investment Plc has said it recorded revenue growth of 14 per cent in its audited financial performance for the financial year ended December 31, 2021.

The audited accounts of the group, released recently in Lagos, indicated that gross revenue increased by 14 per cent to N85.7 billion and, after adjusting for non-recurring one-time gain from prior year’s result, profits from continuing ordinary operations recorded 18 per cent growth while net asset per share grew by 16 per cent to 937 kobo.

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The company’s shareholders’ fund also grew by 16 per cent from N47.6 billion to N55.1 billion after paying dividends totaling N3.24 billion, amounting to 50 lobo per share during the year. 

The audited result of the company and its subsidiaries has confirmed the growth in revenue and shareholders’ funds for the year that ended on 31st December 2021 as earlier reported in the unaudited result released on 31st January 2022.

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The report showed that major business segments posted appreciable revenue and profit growths despite the challenging operating environment. 

In line with the tradition of the company on the payment of regular dividends to its shareholders, the directors recommended the payment of a final dividend of 40 kobo per share on every 50 kobo share of the company, having paid an interim dividend of 10 kobo per share in September 2021, thus taking the total dividend paid on the result for financial year 2021 to 50 kobo per share.

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