BY NKECHI NAECHE-ESEZOBOR–Nigeria’s lead underwriter, Custodian Investment Plc, has reported a 42% growth in its gross revenue at the end of third quarter (Q3) 2020.
The investment holding company with significant interests in life and non-life insurance, pension fund disclosed this when it released its Financial Report for the period ended 30 September 2020 to the Nigerian Stock Exchange that its gross revenue grew from N15.855 billion in 2019 to N22.515 billion in Q3 2020.
According to the insurer profit after taxation rose slightly from N1.374 billion in 2019 in same period to N1.501 billion in Q3 2020, indicating 9.29% rise.
The company also recorded an improvement in its profit for nine months to N6.036 billion from N5.461 billion in 2019.
The company’s gross revenue went up from N46.320 billion in 2019 to N 57.529 billion in nine months of 2020.