Custodian Investment Plc released its audited full-financial year 2020 for the year ended December 31, 2020. There was an uptick in the top and bottom line of the company.
It also recommended the declaration of dividends subject to the approval of Shareholders at the Company’s Annual General Meeting to be held in due course.
Key highlights
- Gross earnings rose by 22.2% from N61.4 billion in 2019 to N75 billion in 2020.
- Profit before tax rose jumped 69% from N8 billion in 2019 to N13.6 billion in 2020.
- Profit after tax rose by 111% from N6 billion in 2019 to N12.6 billion in 2020.
A 67% rise in claims and claims-related expenses from N28.1 billion in 2019 to N47.1 billion in 2020. That led to a net loss of N2.5 billion. This was offset by a sharp rise in net fair value gains due to the UPDC deal.
Custodian Investment Plc. is an investment company with a significant holding in companies and brands including Custodian and Allied Insurance Limited, Custodian Life Assurance Limited, Custodian Trustees, Crusader Sterling Pensions Limited and UACN Property Development Company Plc. all rendering best in class services in their respective spheres.
The Company is managed by a Board comprising thoroughbred professionals with proven track records in their various fields of endeavour, who brings broad and deep insights derived from several years of fruitful and eventful years of experience to bear on the direction of the Company.
Currently, with group-wide assets under management (AUM) in excess of NGN 300 billion (approx. $1b), the Company ranks high among eminent players in Nigeria’s Other Financial Services Sector of the economy.