NGX Group posts N14.76 billion H1 2026 pre-tax profit, declares N1.30 interim dividend

Nigerian Exchange Group (NGX) Plc has announced an interim dividend of N1.30 per ordinary share for the six months ended June 30, 2026, after posting a record first-half performance driven by strong market activity, improved operating leverage, and higher contributions from its investee companies.

The Group’s unaudited results filed with the Nigerian Exchange (NGX) Limited at the weekend show revenue of N17.60 billion in H1 2026, up 118% from N8.08 billion in the corresponding period of 2025, while total income grew 96% to N19.34 billion.

Profit before tax rose 170% to N14.76 billion, from N5.46 billion in H1 2025, while profit after tax climbed 146% to N10.36 billion, compared with N4.22 billion in the prior-year period.

The Group has proposed an interim dividend of N1.30 (one naira thirty kobo) per ordinary share of 50kobo each, subject to appropriate withholding tax. The Register of Members will be closed on July 30, and only investors who hold the shares as of July 29, 2026 are qualified to be paid a dividend on August 5, 2026.

CEO’s comments:

Commenting on the results and dividend, the Group Chairman of NGX Group, Alhaji (Dr.) Umaru Kwairanga, said:

• “The Board’s approval of an interim dividend of N1.30 per share reflects the strength of NGX Group’s first-half performance and our confidence in the Group’s long-term prospects.”

Also commenting on the performance, the Group Managing Director and Chief Executive Officer of NGX Group, Mr. Temi Popoola, said:

• “Our first-half results demonstrate the strength and scalability of NGX Group’s business model.”

He added that the Group remains focused on “deepening market liquidity, expanding investor participation, accelerating the development of technology-enabled products and building a more diversified financial market infrastructure group.”

Key highlights: (H1 2026 vs. H1 2025)

• Revenue: N17.60 billion, up 118% year-on-year
• Total Income: N19.34 billion, up 96% year-on-year
• Profit Before Tax: N14.76 billion, up 170% year-on-year
• Profit After Tax: N10.36 billion, up 146% year-on-year
• Transaction Fees: N13.34 billion, up 169% year-on-year
• Listing Fees: N2.38 billion, up 59% year-on-year
• Technology Income: N447.86 million, up 19% year-on-year
• Operating Profit: N10.62 billion, up 155% year-on-year
• Share of Profit from Equity-Accounted Investees: N4.14 billion, up 130% year-on-year
• Total Assets: N75.87 billion (as at June 30, 2026)
• Shareholders’ Equity: N60.49 billion (from N55.20 billion at end of 2025)
• Interim Dividend: N1.30 per ordinary share

Driving the numbers:

NGX Group’s revenue growth was principally driven by a surge in market activity, with transaction fees rising 169% to N13.34 billion from N4.96 billion, underscoring the impact of the sustained rally and heavier trading volumes on the Nigerian Exchange through the first half of the year.

• Listing fees rose 59% to N2.38 billion, reflecting increased new listings and capital-raising activity on the bourse during the period, while technology income grew a more modest 19% to N447.86 million.
• Operating profit increased 155% to N10.62 billion, with income growth significantly outpacing the rise in operating expenses — a sign of strong operating leverage as the Group’s cost base scales more slowly than its revenue.
• The Group’s 130% increase in share of profit from equity-accounted investments to N4.14 billion was driven primarily by the strong performance of Central Securities Clearing System Plc (CSCS), highlighting the growing importance of NGX Group’s investment portfolio to overall earnings.

Transaction fees alone accounted for roughly 76% of total revenue in the period, reinforcing how closely the Group’s earnings are tied to the pace of trading activity on the Exchange.

Balance sheet:

NGX Group’s balance sheet strengthened during the period under review.

• NGX Group’s total assets rose to N75.87 billion in the first half of 2026 from N71.05 billion at the end of 2025, driven mainly by N34.64 billion in investments in associates and N24.42 billion in long-term investment securities.
• The Group maintained a moderate liquidity position, with N9.34 billion in cash and short-term investment securities against N13.07 billion in current liabilities.
• Total liabilities stood at N15.38 billion, largely comprising current obligations such as payables, deferred income and tax liabilities, while non-current liabilities remained modest at N2.31 billion.

Shareholders’ equity increased to N60.49 billion from N55.20 billion, accounting for about 80% of total assets, reflecting a strong capital base, low leverage and solid financial stability.

What you should know:

NGX Group’s first-half performance reflects the broader boom in Nigerian equities trading, with the Group’s own fortunes rising in tandem with the record activity levels on the Exchange it operates.

• The 170% jump in pre-tax profit significantly outpaced the 118% growth in revenue, pointing to improved cost efficiency and operating leverage during the period.
• CSCS’s stronger contribution to the Group’s equity-accounted income suggests that sweeping overhaul of its fee structure in 2026 is increasingly paying off as a secondary earnings driver beyond core exchange operations.

The Board’s decision to declare an interim dividend alongside the results signals confidence in the sustainability of the current earnings trajectory, even as the Group continues to invest in technology and market development.

The qualification date, register closure period, and payment date for the N1.30 interim dividend are yet to be communicated and will follow the approved corporate action timetable and applicable regulatory requirements.