Custodian Investment Plc recorded impressive growths in incomes and profitability in the immediate past business year, with pre-tax profit rising by 133 per cent to N60.67 billion.
Key extracts of the audited report and accounts of the company for the year ended December 31, 2024 showed that gross earnings rose by 54 per cent from N98.87 billion in 2023 to N152 billion in 2024. Profit before tax doubled by 133 per cent to N60.67 billion as against N25.991 billion recorded in the previous year.
At the 30th annual general meeting in Lagos, shareholders approved a total dividend per share of N1.25 for the 2024 financial year, including interim dividend of 15 Kobo paid earlier and a final dividend of N1.10 Kobo.
Addressing the shareholders, Chairman, Custodian Investment Plc, Dr. Omobola Johnson said the company’s overall strong performance underscored the resilience of its business model and tenacity of the management team staff.
She reassured shareholders that the board would continue to work with management to deploy the group’s assets professionally, prudently and profitably within the dictates of the evolving local and global economy.
“Looking ahead, several strategic imperatives will be crucial for navigating the economic landscape of 2025,” Johnson said.
She added that the group would continue to reinvent its business models to adapt to new economic realities by focusing on agility, customer-centricity and value creation.
According to her, by leveraging customer insights and exploring untapped opportunities to reignite market play and revitalize market strategies, the group would sustain its growth.
She noted that the group would also align spending with core capabilities and eliminate non-value-adding expenses to enhance competitiveness.
She said the group would continue to foster a culture of innovation by harnessing emerging technologies and AI-driven solutions to drive efficiency while exploring innovative financing options.
Johnson pointed out that the group would optimise capital allocation and strengthen shareholder relationships by engaging with regulators, customers and strategic partners to foster trust and collaborative value creation for sustainable growth.
She said that despite the challenges of the review year, 2024 was a successful year for the company, noting that the exceptional feat recorded was made possible by the collective efforts, staunch support and dedication of all stakeholders.
Group Managing Director, Custodian Investment Plc, Mr. Wole Oshin explained that in a bid to ensure the group continues to grow and deliver value to all stakeholders, it would focus on key strategic areas.
According to him, these key areas included enhancing stakeholder value, innovation and adaptability, integrity and governance, collaboration and growth as well as sustainability and social responsibility.
He pointed out that as the group embarked on the new chapter, collective efforts, resilience and commitment to excellence would ensure that it continues to thrive.
“As a group, we are committed to identifying and leveraging new investment opportunities that align with our vision of creating and preserving wealth for all stakeholders. We are committed to exploring new investment opportunities within the financial services industry while expanding our footprint across Africa.
“We recognise that wealth creation is not solely about financial gains but also about fostering a sustainable and lasting impact,” Oshin said.
He noted that the group’s role as custodians of value extends beyond delivering returns; but also involves building a legacy of trust, innovation and meaningful contributions to society.
SOURCE: THE NATION
