H1 2017 saw Custodian & Allied Plc grow gross revenue by 16% to N20bn. Operating expense rose by 15%, while management expenses was up 4% to N2bn. Profit before tax in the period stood at N5bn, a 30% rise from H1 2016 while after-tax profit grew by 32% to N4bn,
Balance sheet numbers showed 12% rise in total assets to N76bn as financial assets grew by 17% to N47bn. Total liabilities was up 13% to N43bn, translating to a 10% rise in net assets to N33bn. See details below.
Income Statement | H1 2017 | H1 2016 | % Change |
Gross Revenue (mn) | 19,798 | 17,126 | 16% |
Operating Expense (mn) | 12,798 | 11,158 | 15% |
Management Expenses (mn) | 2,521 | 2,419 | 4% |
PBT (mn) | 4,726 | 3,631 | 30% |
TAX Expense/Credit (mn) | 920 | 744 | 24% |
PAT (mn) | 3,806 | 2,887 | 32% |
Balance Sheet | H1 2017 | FY 2016 | % Change |
Fixed Assets (mn) | 3,007 | 3,040 | -1% |
Total Assets (mn) | 75,617 | 67,794 | 12% |
Financial Assets (mn) | 46,690 | 40,054 | 17% |
Insurance Contract liabilities (mn) | 30,513 | 26,605 | 15% |
Investment Contract Liabilities (mn) | 3,200 | 3,488 | -8% |
Financial Liabilities (mn) | - | - | 0% |
Total Liabilities (mn) | 42,649 | 37,700 | 13% |
Net Assets (mn) | 32,968 | 30,094 | 10% |
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