Nigerian Exchange (NGX) Group Plc has recorded a significant financial turnaround in the first quarter of 2026, reporting a profit after tax of ₦4.09 billion, a 93.7 percent surge from ₦2.11 billion in the same period of 2025. This strong performance reflects heightened activity across the Nigerian capital market, driven by robust trading volumes, increased listings, and improved ancillary services. Revenue for the quarter climbed to ₦7.22 billion, marking a 102.9 percent year-on-year growth from ₦3.56 billion, underscoring the Group’s expanding footprint in the financial ecosystem.
Total income for the period reached ₦7.80 billion, up from ₦4.58 billion, despite a decline in other income to ₦579.73 million from ₦1.02 billion in Q1 2025. The increase in revenue was broad-based, with contributions from core operations and investment income. Operating expenses, however, rose sharply, with personnel costs increasing to ₦1.85 billion from ₦1.22 billion, while other operating expenses climbed to ₦1.80 billion from ₦1.08 billion. Depreciation and amortisation also grew to ₦203.40 million from ₦125.93 million, pushing total operating expenses to ₦3.85 billion, up from ₦2.43 billion.
Despite the rise in costs, the company’s operating profit surged to ₦3.95 billion, up from ₦2.15 billion in the prior year, highlighting efficient cost management and strong revenue generation. Profit before tax rose to ₦5.98 billion from ₦2.49 billion, largely due to a significant increase in the share of profit from equity-accounted investees, which jumped to ₦2.03 billion from ₦593.59 million. Income tax expense, however, rose substantially to ₦1.89 billion from ₦372.95 million, reflecting the higher taxable earnings. This led to a profit after tax of ₦4.09 billion, while total comprehensive income dipped to ₦3.47 billion due to an other comprehensive loss of ₦620.94 million.
On the balance sheet, total assets increased to ₦76.33 billion from ₦71.05 billion as of December 31, 2025, driven by a sharp rise in investment securities to ₦5.16 billion from ₦1.70 billion. Long-term investments and associates also contributed significantly, valued at ₦36.01 billion. Cash and cash equivalents rose to ₦2.65 billion from ₦2.55 billion, indicating stable liquidity. Total liabilities increased to ₦17.65 billion from ₦15.85 billion, primarily due to higher current tax liabilities and deferred income balances. Shareholders’ equity strengthened to ₦58.68 billion from ₦55.20 billion, supported by retained earnings growth to ₦52.66 billion from ₦48.56 billion.
The Q1 2026 results signal a resilient recovery for NGX Group Plc, fueled by revenue expansion and investment gains, even as rising operational and tax costs remain key financial considerations. This performance positions the Group for continued growth and reinforces its role as a cornerstone of Nigeria’s financial infrastructure.
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