Africa Prudential Plc has published its financial statement for the full year ending December 31, 2024, reporting a pre-tax profit of N2.8 billion.
This indicates a 94.94% year-over-year (YoY) increase from the N1.4 billion announced for the previous year, amid a rise in full-year revenue.
For 2024, revenue increased by 23.91% YoY to N1 billion, compared to N872.5 million reported in the prior year.
Of this revenue, fees from corporate actions accounted for 69.9%, while register maintenance represented 30.00% of the total.
Additionally, the company’s total assets rose to N34.8 billion, reflecting a 51.62% year-over-year increase, and retained earnings grew to N8.1 billion, up 8.11% from the previous year.
Considering these positive results, Africa Prudential announced a final dividend of 60 kobo per 50 kobo ordinary share, subject to withholding tax, to be paid to shareholders listed in the Register of Members as of the close of business on March 21, 2025.
When combined with the interim dividend of 15 kobo paid at half-year, the total dividend for the 2024 financial year will amount to 75 kobo per ordinary share.
Africa Prudential Plc reported full-year revenue of N1 billion, reflecting a 23.91% increase compared to N872.5 million in the previous year.
Interest income also rose by 33.64% year-over-year to N4.1 billion, up from N3 billion reported in 2023.
Other income increased significantly by 754.90% year-over-year to N307.7 million, with rental income and dividend income contributing N167 million and N103.1 million, respectively.
Ultimately, the company reported a pre-tax profit of N2.8 billion, up 94.94% year-over-year from N1.4 billion in 2023, with post-tax profit also standing at N2.8 billion, a 95.05% increase from the previous year.
The company’s total assets increased by 51.62% to N34.8 billion, up from N22.9 billion reported in the previous year.