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Tuesday, March 21, 2023

Africa Prudential Profits Dip Marginally to N1.4bn in Q3

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Africa Prudential Plc has announced its Unaudited Financial Statements for the period ended September 30th 2020, with a Gross Earnings of N2.63 Billion and Profit Before Tax of N1.41 billion.

The Company which deals in share registration, investor and business support services delivered an Earnings Per Share of 71Kobo.

Commenting on the result, The Managing Director/CEO of Africa Prudential, Obong Idiong, said: “While the negative economic impact of the Covid-19 continue to reflect on our traditional income lines, the transition of the company from a traditional Registrar Business to a technology business deploying technology to transform the Registrar, Cooperative, E-Commerce, and Digital Technology play could not have come at a better time. We are confident that as the Company’s new businesses continue to gather momentum, we will continue to deliver sustainable value to our investors.”

“Among the gradual result of the transformation process is the 263% year-on-year growth in Digital Technology Consultancy income. We also grew our investment income by 6% year-on-year through an the efficienct allocation of investmentible fund despite the prevailing low interest rate regime.”

“We will continue to consolidate on our gains in the digital technology space to deliver great value and exceptional experience to clients across all our touch points.”

Africa Prudential Plc is the only registrar listed on the Nigerian Stock Exchange (NSE), specializing in customer-focused, technologically driven services for corporations in the Nigerian Capital Market.

Africa Prudential Plc manages 83 client-registers, made up of over three million shareholders. The company is the most capitalized registrar in the country.

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