Custodian Investment Plc Reports Decline in profit after tax of 16.88% in Q3 2021 

Custodian Investment Plc released its unaudited financial results for the third quarter of the year ended 30th of September 2021. 

  • Gross revenue during the period was N65.20 billion. (+13.34% YoY) 
  • Interest income stood at N8.37 billion. (+8.82% YoY) 
  • Operating and investment income for the period was N56.83 billion. (+14.04% YoY) 
  • Operating expenses of N36 billion was recorded. (+8.00% YoY) 
  • Net income of N33.30 billion was recorded. (+1,312.62% YoY) 
  • Profit before tax was N6.85 billion (-6.50% YoY) 
  • Total assets during the period stood at N181.11 billion. (+4.95 bn YoY) 
  • Profit after tax was N5.02 billion. (-16.88% YoY) 
  • Earnings per share of 91 kobo Vs 99 kobo YoY. 

See link to results 

Custodian Investment Plc projects profit after tax of N7.63 billion in Q4 2021.

Custodian Investment Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).

  • Gross revenue is expected to hit N79.14 billion during the period under review.
  • Total expenses projection of N69.7 billion.
  • Net cash flow projection of N40.71 billion
  • Tax is projected at N1.86 billion.
  • Profit after tax is projected at N7.63 billion.

See link to forecasts.

Custodian Investment posts half-year profit of N4.6 billion, proposes interim dividend of 10 kobo/share.

Custodian Investment Plc released its unaudited financial results for the period ended 30th of June, 2021.

  • Gross revenue for the period was N42.19 billion. (+20.5% YoY)
  • Interest income of N5.33 billion. (+6.2% YoY)
  • Operating and investment income was N36.9 billion. (+22.9% YoY)
  • Operating expenses totalled N23.2 billion. (+10.3% YoY)
  • Profit for the period was N4.63 billion. (+2.2% YoY)
  • Earnings per share of 82 kobo Vs 75 kobo YoY.
  • An interim dividend of 10 kobo was declared for the period.

See link to results

Custodian Investment Plc gets regulatory clearance to take-over UPDC.

Custodian Investment Plc has obtained a regulatory approval to proceed with a Mandatory Takeover (MTO) offer of UACN Property Development Company (UPDC).

According to a notice signed by the secretary of Custodian Investment Plc, Adeyinka Jafojo, the MTO offer to minority shareholders of UPDC will involve the purchase of up to 34,415,332 Ordinary shares of 50 kobo each, at a price of 90 kobo per share.

In addition, the offer is expected to be open by 31st of May, 2021 and close by 2nd of July, 2021. The qualification date was 14th of May, 2021, implying that shareholders whose names appear on the Register of Members as at the aforementioned qualification date are eligible to participate.

What you should know:

  • Nairametrics had earlier reported that the duo (Custodian and UPDC) had agreed to a sale of 51% of UPDC in a transaction that will occur in two phases.
  • Sequel to the completion of the deal, UAC will still retain part ownership of the company but will cease to have it as a subsidiary of UAC.



Custodian Investment Plc to hold AGM on April 22nd.

The Board of Custodian Investment Plc has announced that it will host its Annual General Meeting on the 22nd of April, 2021. Sequel to this, the following cogent issues will be considered;

  • Its audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
  • Its proposed dividend will be officially declared.
  • To re-elect the following Directors retiring by rotation; Messrs Ravi Sharma and Olakunle Ade-Ojo.
  • To raise the naira equivalent of $15 million as additional capital through a convertible loan instrument.

For more information about the AGM, click HERE