Custodian Investment Plc (NGX: CUSTODIAN) has projected that it will more than triple its profit after tax in the first quarter of 2025.
The investment holding company disclosed this in its earning forecast published on The Nigerian Exchange Limited on Thursday. It projects that profit after tax will grow from ₦3.42 billion it reported for the first quarter of 2024 to ₦11.13 in the first quarter of 2025.
Also read; Caverton Marine partners with Naval Dockyard to boost Shipbuilding capabilities
A revenue projection of ₦61.32 billion for Q1 2025 if achieved will be a near doubling from the ₦34.63 billion it reported in Q1 2025. Operating expenses is projected to be ₦45.85 billion, set to rise by almost the same degree as revenue from ₦25.68 billion spent in Q1 2024.
Net fair value gain for the company is estimated to be ₦3.43 billion, by end of fist quarter period of 2024 ended 31 March, 2024, CUSTODIAN earned ₦50.81 million as Net fair value gain.
The company estimates that its net cash from operating activities to be ₦9.63 billion, while ₦14.18 billion will be spent on investing activities.
Cash and cash equivalents at the end of the first quarter period of 2025 is projected to be ₦18.76 billion (31 March 2024: ₦14.96 billion).
About the Company
Custodian Investment Plc. is the investment holding company that resulted from the successful merger of Custodian and Allied Insurance Plc and Crusader (Nigeria) Plc.
Custodian Investment Plc was incorporated on 22 August 1991 as a private limited liability Company under the name Accident and General Insurance Company Limited. It changed its name to Custodian and Allied Insurance Plc on 5 February 1993, became a public limited liability company on 29 September 2006 and later changed its name to Custodian Investment Plc on 24 May 2018.
The Company is quoted on the Nigerian Stock Exchange and has its registered office at 16A Commercial Avenue, Sabo Yaba Lagos, Nigeria.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
