Custodian and Allied declares N5.15bn profit

Custodian and Allied Plc has released its audited consolidated annual results for the year ended 31 December 2014, which showed that it made a pre-tax profit of N5.15bn.

The groupís total assets base rose to N48.9bn, while its profit before tax and profit after tax were N5.15bn and N4.09bn, respectively, indicating a year-on-year growth of 19 per cent in profit before tax.

A statement from the company said that in furtherance of its commitment to regular dividend payment to shareholders, an interim dividend of six kobo per share was paid in September, 2014.

It added that following the release of the audited results for the year, the Board of Directors has proposed the payment of an additional 12 kobo per share as final dividend, bringing the total dividend to 18 kobo per share in respect of the results of 2014 financial year.

According to the statement, the audited result demonstrates Custodianís resilience in a challenging operating environment.

Custodian and Allied is a wholly-owned Nigerian investment holding company quoted on the Nigerian Stock Exchange and with significant investments in general and life insurance, pension fund administration, trusteeship and property holding businesses.

The statement said the company maintained a leadership position in the Other Financial Services sector, while its subsidiaries were top players in their respective sub-sectors.

The Custodian Group consists of Custodian and Allied Plc (the holding company), Custodian and Allied Insurance Limited, Custodian Life Assurance Limited, Custodian Trustees Limited and CrusaderSterling Pensions Limited.

Custodian and Allied had declared a profit after tax of N3.2bn in the nine-month period ended September 30, 2014, representing a 54 per cent increase year-on-year. It had posted a profit after tax of N2.06bn in the corresponding period of 2013.

Its profit before tax for the nine-month period at N3.8bn was 52 per cent higher than the N2.5bn PBT it made in the nine months to September 30, 2013, while the gross revenue rose by 14 per cent to N14.5bn from N16.2bn

SOURCE: Punchng

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