CUSTODIAN and Allied Plc, has announced an unaudited profit after tax of N3.2 billion for the nine months period ended 30 September 2014.
The result represents an increase of 54per cent over the N2.06 billion posted in the corresponding period of 2013.
Similarly, shareholders’ funds increased by 11per cent to N21.2 billion from N19.1 billion as at 31 December 2013, while total assets stood at N49.9 billion compared with N45.6 billion reported as at 31 December 2013. It will be recalled that the company recently paid an interim dividend of 6 kobo per 50 kobo share after paying a total of 16 kobo per share on the preceding year’s results.
The Company’s Chief Finance Officer, Ademola Ajuwon, in a statement affirmed that the results have been sent to the Nigerian Stock Exchange (NSE) and the Securities and Exchange Commission (SEC).
He also highlighted favorable underwriting income from the insurance subsidiaries and remarkable efficiency gains group-wide as factors that contributed to the improved result.
“The performance is a concise representation of Custodian and Allied unrelenting commitment to its corporate ideal of exceeding customer and other stakeholders’ expectations at all times as demonstrated daily through customer focus, comprehensive systems, processes and operations integration”.
He also expressed optimism that the company’s well-articulated business plans and forecast would be achieved in the short, medium and long terms to ultimately benefit all stakeholders.
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