Friday, 28 July 2017

Custodian & Allied Plc Grew Profit by 32% in Half Year 2017


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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