Africa Prudential profit grows by 20%
Africa Prudential Plc, a share registration and investor services firm, has said its profit before tax for the period ended June 30, 2018 grew by 20 per cent to N1.14bn from N0.95bn in the same period of 2017.
The firm said its profit after tax increased by 14 per cent year-on-year to N0.98bn, while its turnover grew by 48 per cent to N2.17bn from N1.47bn in the first half of 2017.
Its total assets grew by 13 per cent to N24.88bn, compared to N21.93bn as of the period ended December 31, 2017.
Commenting on the financial results, the Managing Director/Chief Executive Officer, Africa Prudential, Mr Obong Idiong, said, “The results show the success and strength of our business model as a company, as we are committed to taking Africa Prudential Plc to greater heights by continuing to break new grounds, thereby staying ahead of competition.
“Africa Prudential is still poised to be number one in Nigeria, with an aspiration to expand into the African market, driven by technology, translating to strong operational and financial efficiency.”
He said the company would intensify efforts to build on the progress so far recorded in its business diversification drive by pursuing relentless innovation in product development and process improvement, leveraging technology to offer exceptional customer experience to its clients.
The firm said in a statement that it was commended by the leadership of the Nigerian Stock Exchange for championing initiatives that had contributed significantly in developing the nation’s capital market.
“The Exchange and Africa Prudential Plc have had several years of cordial relationship. We are sure the wisdom and leadership of the company will present further opportunities to collaborate on capital market development and other mutually beneficial areas such as sustainability,” the Chief Executive Officer, NSE, Mr Oscar Onyema, who was represented by the bourse’s Chief Risk Officer, Mr Tunji Kazeem, stated this at the closing gong ceremony held in honour of the firm on Friday.